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Chapter 11

TermDefinition
subsidiary ledger ledger summarized in a single general ledger account
accounts payable ledger subsidiary ledger containing only accounts for vendors from whom merchandise is purchased on account or items bought on account
accounts receivable ledger subsidiary ledger containing only accounts for charge customers
controlling account account in general ledger that summarizes all subsidiary ledger accounts
schedule of accounts payable listing of vendor accounts, account balances, and total amount due all vendors
schedule of accounts receivable listing of vendor accounts, account balances, and total amount due from all customers
Created by: Tate.cord70
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