Which document should you consult to find the current amount in accounts receivable?

To find the current amount in accounts receivable, the appropriate document to consult is the Balance Sheet. The Balance Sheet provides a snapshot of an entity’s financial position at a specific point in time and includes assets, liabilities, and equity. Accounts receivable is categorized as a current asset on the Balance Sheet, reflecting amounts owed to the entity by customers for goods or services provided on credit.

The Income Statement is focused on revenues and expenses over a period and does not provide a current snapshot of assets like accounts receivable. The Bank Statement offers a record of transactions related to the bank account but does not detail outstanding receivables. The Accounts Payable Detail specifically pertains to amounts owed by the organization to suppliers or vendors, which is unrelated to accounts receivable. Thus, the Balance Sheet remains the most relevant document for identifying the current amount in accounts receivable.