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by the amount owed to each vendor
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How are the accounts in the accounts payable ledger arranged?
by the amount owed to each vendor
The accounts in the Accounts Payable Ledger are arranged?
by the amount owed to each vendor
What is a subsidiary account for accounts payable?
the accounts payable account is on the general ledger and is generally comprised of many smaller vendor accounts which are listed and tracked separately in the "accounts payable subsidiary ledger". So each vendor would be a subsidiary account of the accounts payable ledger.
To increase the balance in an accounts payable ledger?
To increase the balance in an accounts payable ledger you credit the account.
What are the two general ledger accounts that may act as control accounts for a subsidiary ledger?
accounts receivable and accounts payable
What are 5 types of subsidiary ledgers?
accounts receivable ledger, accounts payable ledger, notes receivable ledger, notes payable ledger and equipment subsidiary ledger
Does an accounts payable ledger contain all of the balance sheet and income statements accounts?
No, the accounts payable ledger only contains information related to supplier accounts. The balance sheet and income statement accounts are contained in the general ledger.
When a credit is posted to the accounts payable ledger what happens?
Accounts payable balance will increase
Which accounts belong in accounts payable ledger?
belong to credits
What type of ledger is an accounts payable ledger?
Liability
General ledger account?
There are several different accounts that are used in the general ledger. Some of these accounts include cash, accounts receivable, inventory, notes payable, accounts payable, and customer deposits.
What is the description for an accounts payable position?
An accounts payable position is called a Purchase Ledger Clerk
