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Posting Single Transactions a. When are sales transactions posted to the accounts
Chapter 16, Problem 3(choose chapter or problem)
Posting Single Transactions
a. When are sales transactions posted to the accounts receivable subsidiary ledger? Why?
b. When are transactions in the cash receipts journal posted to the accounts receivable subsidiary ledger? Why?
Questions & Answers
QUESTION:
Posting Single Transactions
a. When are sales transactions posted to the accounts receivable subsidiary ledger? Why?
b. When are transactions in the cash receipts journal posted to the accounts receivable subsidiary ledger? Why?
ANSWER:Step 1 of 3
An accounting ledger that shows the transaction and payment history of each customer to whom the business extends credit and to ensure accuracy of such account the balance in each customer account is reconciled with the general ledger accounts receivable balance is known as accounts receivable subsidiary ledger.