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Chapter 12 Volca
chapter 12 vocabulary
| Question | Answer |
|---|---|
| Subsidiary Ledger | A ledger that is summarized in a single general ledger account |
| Accounts payable ledger | a subsidiary ledger containing only accounts for vendors from whom items are purchased or bought on account |
| Accounts receivable | subsidiary ledger conatingin only accounts for charged customers |
| Controlling account | ab account in a general ledger that summarizes all accounts in a subsidiary ledger |
| Schedule of accounts payable | a listing of vendor aaccounts, account balances, and total amount due from all customers |
| Schedule of accounts receivable | a lisiting of customer accounts, account balances, and total amount due from sll customers. |
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patsyherrera
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