Brett Tarek,a manager at D&J Landscaping,Inc.needs information regarding the amount of accounts payable currently owed by the company.This information would most easily be found in the:
A)General ledger.
B)General journal.
C)Income statement.
D)Notes to the financial statements.

Question

Quizplus · Accepted Answer

The amount of accounts payable owed by the company would be found in the general ledger, which is a record of all the company's financial transactions including accounts payable and accounts receivable. The general journal is a chronological record of all transactions but does not provide a summary of the amounts owed. The income statement is a summary of revenue and expenses and does not include information about accounts payable. The notes to the financial statements may provide additional information about accounts payable, but the general ledger is the primary source for this information.

Brett Tarek,a Manager at D&J Landscaping,Inc