Identify the statement below that is not true with regards to the accounts receivable subsidiary ledger.
A)Every credit sale is entered individually into the subsidiary ledger.
B)Debits and credits in the subsidiary ledger must always equal.
C)The subsidiary ledgers play an important role in maintaining the accuracy of the data stored in the AIS.
D)The total of the subsidiary ledgers must equal the control account.

Question

Quizplus · Accepted Answer

While it is important for the subsidiary ledger to be balanced, debits and credits may not always equal due to adjusting entries or errors. However, the total of the subsidiary ledgers must always equal the balance in the accounts receivable control account.

Identify the Statement Below That Is Not True with Regards