The Accounts Receivable ledger is:
A) used for recording credit sales.
B) used for storing transaction data for individual customers.
C) used for storing transaction data for individual creditors.
D) used for recording cash receipts from customers.
E) also the controlling account.

Question

Quizplus · Accepted Answer

The Accounts Receivable ledger is used for storing transaction data for individual customers. It is a subsidiary ledger to the Accounts Receivable controlling account. It records credit sales, payments, and balance owed by each individual customer.

The Accounts Receivable Ledger Is