Asked by Jocelyn Cooperwood on May 09, 2024

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The use of subsidiary ledgers is limited to Accounts Payable and Accounts Receivable.

Subsidiary Ledgers

Detailed ledgers that contain information about specific accounts, which are then summarized and included in a company's general ledger.

Accounts Payable

Liabilities owed by a business to its suppliers or creditors for goods and services received but not yet paid for.

  • Comprehend the objective and configuration of subsidiary ledgers and their linkage with the general ledger.
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FM
faridah mohammadMay 12, 2024
Final Answer :
False
Explanation :
The use of subsidiary ledgers can also include inventory, fixed assets, and notes payable.