A subsidiary ledger that contains a separate account for each party that grants credit onaccount to the business is called a(n):
A)Accounts Receivable Ledger.
B)Merchandise Inventory Ledger.
C)Controlling account.
D)Accounts Payable.
E)Accounts Payable Ledger.

Question

Quizplus · Accepted Answer

The Accounts Payable Ledger is a subsidiary ledger that contains individual accounts for each creditor or supplier to whom the business owes money.

A Subsidiary Ledger That Contains a Separate Account for Each