Chap. 12 vocab. Acct Word Scramble
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Question | Answer |
subsidiary ledger | a ledger that is summarized in a single ledger account. |
accounts payable ledger | a subsidiary ledger containing only accounts for vendors from whom items are purchased or brought 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 accounts receivable | a listing of customer accounts, account balances, and total amount due from all customers. |
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