Which of the following accounts normally has a subsidiary ledger?
A) capital stock
B) retained earnings
C) supplies
D) accounts payable

Question

Quizplus · Accepted Answer

Accounts payable normally has a subsidiary ledger because it is a type of account that usually involves many transactions with different suppliers. The subsidiary ledger helps to keep track of all these transactions and to determine the outstanding balance owed to each supplier. Capital stock and retained earnings are permanent accounts that don't typically require a subsidiary ledger, while supplies are usually recorded in a general ledger account rather than a subsidiary ledger.

Which of the Following Accounts Normally Has a Subsidiary Ledger