What is acounts receivable ledger, Accounting Basics

Assignment Help:

What is ACOUNTS RECEIVABLE LEDGER

Businesses have several customers and individual businesses aren't assigned an account number they are just in alphabetical order.

Accounts Receivable is controlling account.

Debit is normal balance

Posting - Accounts Receivable ledger - totals and individual accounts

SALES JOURNAL only records sale of merchandise on account.

Post totals monthly and individual accounts on an everyday basis

 


Related Discussions:- What is acounts receivable ledger

Difference between finance and accounts?, Finance: It is the part of econo...

Finance: It is the part of economics that studies the management of money and other assets. In easier terms it can be explained as the commercial activity of providing funds and c

Benefits of purchases discounts, Benefits of Purchases Discounts Purch...

Benefits of Purchases Discounts Purchases Discounts account is used to record discounts given for prompt payment. To prove ACCOUNTS PAYABLE LEDGER , you will look at bala

Demonstrate perpetual inventory procedure, Q. Illustrate perpetual inventor...

Q. Illustrate perpetual inventory procedure? Data from Exhibit serves like the basis for some of the entries. You would debit the Merchandise Inventory account to record the en

Accounting framework, The conventions and rules of accounting are commonly ...

The conventions and rules of accounting are commonly termed as the conceptual framework of accounting. Along with any discipline or body of knowledge, several underlying theoretica

Journal, Why to and by using in journal, trading a/c, p&l a/c and ledger?

Why to and by using in journal, trading a/c, p&l a/c and ledger?

Vat refundable , Describe what journal entry pass in case of vat refundable...

Describe what journal entry pass in case of vat refundable and in case of vat payable?       Ans) In case of vat payable: output vat Toinput vat To vat payable In case o

Misstatement of accounting information, Q. Misstatement of accounting infor...

Q. Misstatement of accounting information? The FASB describes materiality as the magnitude of an omission or misstatement of accounting information that in the light of surroun

Draw a stem-and-leaf plot for the data set, Draw a stem-and-leaf plot for t...

Draw a stem-and-leaf plot for the data set. (Enter numbers from smallest to largest separated by spaces. Enter NONE for stems with no values.) Data set A: The annual wages of emp

Example of horizontal analysis, Q. Example of horizontal analysis? Seve...

Q. Example of horizontal analysis? Several companies have been restructuring their organizations and reducing the number of employees to cut expenses. AT&T, General Motors, IBM

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd