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An accounting ledger that reveals the transaction history and amounts owed independently for each supplier from whom the business gets credit for purchases. The balance in the customer accounts is from time to time reconciled with the accounts payable (AP) balance in the general ledger to assure accuracy. The AP subsidiary ledger is also generally known as the AP sub ledger or subaccount.
The usefulness of the accounts payable subsidiary ledger lies in the fact that it can present at a glance the amounts owed to a particular supplier. For instance, the general balance may exhibit a total accounts payable balance of $50,000, but it will not give the data that which supplier is owed how much. This information can be taken from the accounts payable subsidiary ledger.
What is the change fund Business that have many cash transactions generally establish this fund, which is an amount of money which is placed in the cash register drawer and is
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
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what are the basics of accounting
White Lightning Inc. report income from continuing operation before income taxes of $626,000 for the year ended 12/31/2004. During October of 2004, White Lightning elected to phase
State about the Cash payments journal A special journal used to record any payment of cash. There would be a check number given to be recorded in journal as well. Source docume
I need an experts advice, I''m nearly finished with my Dissertation on IAS 40 - but I need some more guidance on issues with the standard and how it can be improved
AL MASA a sole trader,decided to install a new machine to use
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