Accounting Ch.11 Word Scramble
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Term | Definition |
Subsidiary Ledger | A ledger that is summarized in single general ledger account |
Accounts Payable Ledger | A subsidiary ledger containing only accounts for vendors from whom merchandise is purchased on account or other items are bought on account |
Accounts Receivable Ledger | A subsidiary ledger containing only accounts for charge customers |
Controlling Account | An account in a general ledger that summarizes all accounts in a subsidiary ledger |
Schedule of Accounts Payable | A listing of vendor accounts, account balances, and total amount due all vendors |
Schedule of Account Receivable | A listing of customer accounts, account balances, and total amount due from all customers |
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