Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Overview of Computerised Accounting System

Question:

In which of the following ledger/journal, the amount owed by a customer for credit purchases found?

Options:

Account receivable journal

General ledger

Sales journal

Accounts receivable subsidiary ledger

Correct Answer:

Accounts receivable subsidiary ledger

Explanation:

The correct answer is option 4- Accounts receivable subsidiary ledger.

An accounts receivable subsidiary ledger is an accounting ledger that shows the transaction and payment history of each customer to whom the business extends credit.