Accounting Chapter 11 Study Guide – Flashcards
Unlock all answers in this set
Unlock answersquestion
Accounts payable ledger
answer
a subsidiary ledger containing only accounts for vendors from whom items are purchased or bought on account
question
Accounts receivable ledger
answer
A subsidiary ledger containing only accounts for charge customers
question
Controlling accounts
answer
An account in a general ledger that summarizes all accounts in a subsidiary ledger
question
Schedule of accounts payable
answer
A listing of vendor accounts, account balances, and totals amounts due to all vendors
question
Schedule of accounts receivable
answer
A listing of customer accounts, account balances, and total amount due from all customers
question
Subsidiary ledger
answer
A ledger that is summarized in a single general ledger account
