Explain the advantages of four different special journals

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Explain in 250 to 300 words, your answers to the following:

• What are the advantages of the four different special journals? When would you use each type?

• What is a subsidiary ledger and what purpose does it serve?

• What is a control account and what purpose does it serve?

• Which two general ledger accounts may act as control accounts for a subsidiary ledger?

• What are the advantages of using subsidiary ledgers?

Reference no: EM13454580

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