Practicing Success
Where are the amounts owed by customers for credit purchases found? |
Accounts Receivable Journal Accounts Receivable Subsidiary Ledger Sales Journal General Ledger |
Accounts Receivable Subsidiary Ledger |
The correct answer is Option (2) → Accounts Receivable Subsidiary Ledger The amount owed by a customer for a credit purchase is typically found in the accounts receivable section of a company's financial records. This is where the company keeps track of the money that customers owe them for goods or services they have purchased on credit. You can also find this information on the customer's invoice or statement, which will detail the amount owed, payment terms, and due date. |