6 terms

Chapter 11 Vocabulary

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Subsidiary Ledger
A ledger that is summarized in a single general ledger account.
Accounts Payable Ledger
A subsidiary ledger containing only accounts for vendors.
Accounts Receivable Ledger
A subsidiary ledger containing only accounts for customers.
Controlling Account
An account in the general ledger that summarizes all accounts in a subsidiary ledger.
Schedule of Accounts Payable
A listing of all vendor accounts, account balances and total amount due all vendors.
Schedule of Accounts Receivable
A listing of all vendor accounts, account balances and total amount due from all customers.