Asked by Derek Lewis on Apr 30, 2024
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Postings are made daily to the
A) Accounts Receivable control account.
B) Accounts Payable control account.
C) Accounts Receivable subsidiary ledger.
D) control accounts in the general ledger.
Accounts Receivable Subsidiary Ledger
A detailed ledger that contains individual customer accounts, tracking the amounts owed by each customer to a business.
General Ledger
A comprehensive record of all financial transactions, organized by account, used to compile financial statements.
Control Accounts
General ledger accounts that summarize the details of transactions recorded in subsidiary ledgers.
- Learn the procedures and importance of listing transactions in financial ledgers.
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Learning Objectives
- Learn the procedures and importance of listing transactions in financial ledgers.
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