Williams moved out of Los Angeles District in June 2018. Williams' account had a zero balance in July 2018, and no activity after July 2018. A $45.18 payment was posted to Williams' account in December 2021 Please make a recommendation how the overpayment to williams' account should be handled. Please include in your recommendation: payment transfer, payment refund, transfer to escheated account Please explain the reason for your recommendation.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1 Williams moved out of Los Angeles District in June 2018. Williams' account had a zero balance in July 2018, and no activity after July 2018.
2
3 A $45.18 payment was posted to Williams' account in December 2021
4
5 Please make a recommendation how the overpayment to Williams' account should be handled.
6
7 Please include in your recommendation: payment transfer, payment refund, transfer to escheated account
8
9 Please explain the reason for your recommendation.
10
11
Transcribed Image Text:A В D F G K. M 1 Williams moved out of Los Angeles District in June 2018. Williams' account had a zero balance in July 2018, and no activity after July 2018. 2 3 A $45.18 payment was posted to Williams' account in December 2021 4 5 Please make a recommendation how the overpayment to Williams' account should be handled. 6 7 Please include in your recommendation: payment transfer, payment refund, transfer to escheated account 8 9 Please explain the reason for your recommendation. 10 11
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