Asked by Samantha Valadez on Jun 12, 2024
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When you record the entry to the subsidiary ledger and place the checkmark in the PR column, it is necessary to post to the Accounts Receivable controlling account.
Subsidiary Ledger
A set of detailed accounts that supports the balance reported in a general ledger control account.
Accounts Receivable
The outstanding invoices a company has or the money the company is owed by its clients.
PR Column
Likely refers to a reference or designation in accounting or bookkeeping but insufficient context for a precise definition. Could potentially mean "Posting Reference" column used to track entries in ledgers.
- Understand the role and procedures of subsidiary ledgers and controlling accounts.
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Learning Objectives
- Understand the role and procedures of subsidiary ledgers and controlling accounts.
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