Practicing Success
Where are amounts owed by customers for credit purchases found? |
Accounts Receivable Journal General Ledger Sales Journal Accounts Receivable Subsidiary Ledger |
Accounts Receivable Subsidiary Ledger |
The correct answer is Option (4) - Accounts Receivable Subsidiary Ledger. Amounts owed by customers for credit purchases are found in the Accounts Receivable Subsidiary Ledger. This ledger provides detailed information about individual customer accounts, including the amounts they owe for credit purchases. The Accounts Receivable Subsidiary Ledger is a part of the overall accounting system and helps track the balances and transactions of each customer separately. |