The Sales and Accounts Receivable Subsystem deals with:

The correct option is: the recording of Sales, maintaining of Sales Ledger and Receivables.

Explanation:
An accounting information system is divided into various specialized subsystems, each responsible for a specific cycle of business activities. The Sales and Accounts Receivable Subsystem (often referred to as the revenue cycle) focuses exclusively on transactions related to selling goods or services on credit and collecting the payments due from customers.

Let us break down why this option is correct by looking at its core components:
1. Recording of Sales: When a sale is made on credit, the transaction must be documented. This subsystem records the initial sales transaction, updating the sales revenue.
2. Maintaining the Sales Ledger: The sales ledger (or customer ledger) contains individual accounts for each customer. This subsystem tracks how much each specific customer bought, how much they have paid, and their current outstanding balance.
3. Receivables: Accounts receivable represents the total money owed to the business by its customers. The subsystem tracks these outstanding amounts and manages collections, credit limits, and aging of accounts.

Analyzing the other options to understand why they belong to different subsystems:
• "the preparation of Budget for the coming financial year" falls under the planning, budgeting, and management control systems.
• "the preparation of Profit and Loss Account, Balance Sheet and Cash Flow Statement" is the responsibility of the General Ledger and Financial Reporting Subsystem, which aggregates data from all cycles.
• "the purchase and payment to creditors" belongs to the Purchases and Accounts Payable Subsystem (expenditure cycle).