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Accounts Payable Subsidiary Ledger a. What is the purpose of the accounts payable
Chapter 15, Problem 6(choose chapter or problem)
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?
Questions & Answers
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.