Which of the following is true of an accounts payable subsidiary ledger?
A)It does not indicate the amount owed to each vendor.
B)It shows only a single total for the amount owed on account.
C)It lists vendors in alphabetical order, along with amounts paid to the vendors and the remaining amounts owed to them.
D)Its format is entirely different from an accounts receivable subsidiary ledger.

Question

Quizplus · Accepted Answer

An accounts payable subsidiary ledger lists vendors in alphabetical order along with amounts paid to the vendors and the remaining amounts owed to them. This allows for tracking of individual vendor balances and provides more detail than a single total for the amount owed on account. It is similar in format to an accounts receivable subsidiary ledger.

Which of the Following Is True of an Accounts Payable