Asked by
Jspazz TheGreat
on Dec 17, 2024Verified
The accounts receivable subsidiary ledger shows the amount collected from each customer.
Accounts Receivable
The amount of money owed to a company by its customers for goods or services sold on credit.
Subsidiary Ledger
A detailed ledger that contains all the transaction-level detail for accounts in the general ledger, often used for accounts receivable, accounts payable, etc.
- Identify the role and workings of subsidiary ledgers and controlling accounts.
Verified Answer
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Learning Objectives
- Identify the role and workings of subsidiary ledgers and controlling accounts.