6 terms

Accounting Ch. 11 Vocab

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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 form whom merchandise is purchased on account or other items are bought on account
Accounts Receivable Ledger
Ledger containing only accounts for charge customers
Controlling Account
account in a general ledger that summarizes all accounts in a subsidiary ledger.
Schedule of Accounts Payable
a listing of vendor accounts, account balances, and total amount due all vendors
Schedule of Accounts Receivable
a listing of customer accounts, account balances, and total amount due form all customers
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