Accounts Payable Subsidiary Ledger a. What is the purpose of the accounts payable

Chapter 15, Problem 6

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QUESTION:

Accounts Payable Subsidiary Ledger

a. What is the purpose of the accounts payable subsidiary ledger?

b. Why do you post a purchase on account to two different ledgers?

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QUESTION:

Accounts Payable Subsidiary Ledger

a. What is the purpose of the accounts payable subsidiary ledger?

b. Why do you post a purchase on account to two different ledgers?

ANSWER:

                                                                  Step 1 of 3

Accounts payable are recorded under the current liabilities of the balance sheet. Accounts payable is the amount payable at the end of the company within the period of one year.

                                                                 

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