Each individual entry in the revenue journal is posted to the a. accounts receivable subsidiary ledger and the controlling account b. revenue controlling account c. accounts receivable controlling account d. accounts receivable subsidiary ledger

Question

Lucille Tate

Business

16 June, 09:05

Each individual entry in the revenue journal is posted to the a. accounts receivable subsidiary ledger and the controlling account b. revenue controlling account c. accounts receivable controlling account d. accounts receivable subsidiary ledger

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Rex Rich · Answer 1

D) accounts receivable subsidiary ledger

Explanation:

The accounts receivable subsidiary ledger contains all the customer account activities including sales and any returns. By summarizing all of the customers' information in this subsidiary ledger account, the company can track sales records of all its clients including those who pay in cash. If the sales is made on cash, the accounts receivable is immediately credited and cash debited.