A WA tenant pays rent into the agency's trust account by electronic transfer. What must the agency do about a receipt?
Correct Answer
D) No receipt is needed, but it must keep a uniquely numbered record
The WA handbook says a receipt does not have to be issued when money is received by electronic transfer, but a record must be kept that lets the receipt of money be uniquely identified, with a consecutive number or letter, the date, the payer's name, the amount and the purpose of the payment.
Why This Is the Correct Answer
Electronic receipts need no receipt but require a uniquely identifiable record.
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