The Accounts Payable account in the General Ledger is
A)The account that controls the subsidiary accounts payable ledger.
B)The subsidiary account to the purchases journal.
C)Part of a subsidiary ledger.
D)Part of a special journal.
E)The account that controls the purchases journal.

Question

Quizplus · Accepted Answer

The Accounts Payable account in the General Ledger is a control account that summarizes the total amount owed to creditors, and it controls the subsidiary accounts payable ledger, which contains individual creditor accounts.

The Accounts Payable Account in the General Ledger Is