When posting entries from a purchases journal to the general ledger,________.
A) posting references are not shown in the subsidiary ledger
B) the Accounts Payable balance in the general ledger will be less than the sum of the individual vendor balances in the subsidiary ledger
C) the amounts in the Other Accounts DR column are posted individually to the specific accounts
D) entries are posted on a daily basis for all the accounts

Question

Quizplus · Accepted Answer

When posting entries from a purchases journal to the general ledger, the amounts in the Other Accounts DR column are posted individually to the specific accounts. The posting references are typically shown in the subsidiary ledger, and the Accounts Payable balance in the general ledger should equal the sum of the individual vendor balances in the subsidiary ledger. Entries are typically posted on a regular basis, such as daily or weekly, but the frequency may vary depending on the size and complexity of the company's operations.

When Posting Entries from a Purchases Journal to the General