The general rule for posting is that the controlling account is debited periodically for an amount equal to the sum of the debits to the subsidiary ledger, and is credited periodically for an amount equal to the sum of the credits to the subsidiary ledger.
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Q21: Two common subsidiary ledgers are cash receipts
Q28: The Accounts Payable ledger has a controlling
Q29: Individual transactions in the Sales Journal are
Q30: Account balances in the General Ledger and
Q31: A Sales Journal is used to record
Q32: Under the perpetual system cash sales are
Q34: The Accounts Payable ledger is used for
Q35: Three issues involving the Sales Journal include:
Q36: Items posted from the General Journal carry
Q38: Equipment, inventory, and investments may also need
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