Asked by James Bertakis on Jun 11, 2024
Verified
The accounts receivable subsidiary ledger is an example of a special journal.
Accounts Receivable
Funds that a company's customers have not yet remitted for products or services that have been provided.
Subsidiary Ledger
A detailed ledger containing the individual accounts that make up a controlling account in the general ledger.
- Acknowledge the intent and arrangement of subsidiary ledgers and their association with the general ledger.
Verified Answer
CA
Cassandra AeschlimanJun 16, 2024
Final Answer :
False
Explanation :
The accounts receivable subsidiary ledger is not a special journal. It is a separate record of all individual customer accounts and transactions related to accounts receivable. Special journals include sales, cash receipts, purchases, and cash disbursements journals.
Learning Objectives
- Acknowledge the intent and arrangement of subsidiary ledgers and their association with the general ledger.