The amounts recorded in the accounts payable column in a cash payments journal are posted:
A) individually on a daily basis to the subsidiary ledger.
B) individually on a daily basis to the purchases journal.
C) only in total at the end of the reporting period to the income statement.
D) only in total at the end of the reporting period to the statement of financial position.

Question

Quizplus · Accepted Answer

In a cash payments journal the individual amounts recorded in the accounts payable column are posted daily to the subsidiary ledger.

The Amounts Recorded in the Accounts Payable Column in a Cash