5. value: 2.00 points The Accounts Payable account in the general ledger is: The account that controls the purchases journal. A controlling account for the subsidiary accounts payable ledger. Part of a subsidiary ledger. The subsidiary account to the purchases journal. Part of a special journal.
Added by Donna G.
Close
Step 1
In the general ledger, identify the account that controls the purchases journal. Show more…
Show all steps
Your feedback will help us improve your experience
Prashant Bana and 66 other Principles of Accounting educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Recommended Videos
'The ledger that contains the financial statement accounts of a company is the Choose General journal to record Column balance journal Special ledger General ledger Special journal Credit purchases'
Prashant B.
The entry to record the granting of credit to a customer for a sales return is posted to the accounts receivable subsidiary ledger only. the general ledger only. both the accounts receivable subsidiary ledger and the general ledger. both the accounts payable subsidiary ledger and the general ledger.
Akash M.
The journal entry to purchase equipment on account includes a: a. debit to Accounts Payable b. credit to Cash c. credit to Accounts Payable d. debit to Accounts Receivable
Kevra B.
Recommended Textbooks
Horngren’s Cost Accounting
Cost Accounting A Managerial Emphasis
Principles of Accounting Volume 1: Financial Accounting
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD