Chapter#6D: The Subsidiary Ledgers Flashcards
1
Q
What does Subsidiary Ledgers do?
A
They keep track of individual customer and vendor names and addresses, aged transactions and other pertinent information
2
Q
What is Integration?
A
It’s when ledgers are linked to the General Ledger
3
Q
What does the Accounts Receivable Ledger hold?
A
all Customer Information
4
Q
What does the Accounts Payable Ledger hold?
A
all vendor information
