Asked by Manuel De Sousa on Jun 26, 2024
Verified
To prove the subsidiary ledger agrees with the Accounts Payable controlling account balance, complete a:
A) trial balance.
B) schedule of accounts payable.
C) purchase order.
D) schedule of accounts receivable.
Subsidiary Ledger
A detailed ledger that contains the individual accounts needed to support a specific general ledger account.
Accounts Payable
Liabilities of a business that are obligations to pay creditors for goods and services purchased on credit.
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.
- Explain the role and importance of subsidiary ledgers and control accounts in accounting.
Verified Answer
Learning Objectives
- Explain the role and importance of subsidiary ledgers and control accounts in accounting.
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