A credit balance in a vendor's subsidiary account indicates that the vendor has been overpaid or that there are available funds or credits that can be applied to future purchases. This situation may arise from returned goods, discounts, or prepayments made by the buyer. It signifies that the buyer effectively has a positive balance with the vendor, which can be utilized for future transactions.
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
Any credit balance in a vendor subsidiary account ia an unpaid balance owed?
yeah
yes there is 1 but i forgot it
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
Any credit balance in a vendor subsidiary account ia an unpaid balance owed?
Any credit balance in a vendor subsidiary account ia an unpaid balance owed?
yeah
A subsidiary ledger is a group of similar accounts whose combined balances equal the balance in a specific general ledger account. The general ledger account that summarizes a subsidiary ledger's account balances is called a control account or master account. For example, an accounts receivable subsidiary ledger (customers' subsidiary ledger) includes a separate account for each customer who makes credit purchases. The combined balance of every account in this subsidiary ledger equals the balance of accounts receivable in the general ledger. Posting a debit or credit to a subsidiary ledger account and also to a general ledger control account does not violate the rule that total debit and credit entries must balance because subsidiary ledger accounts are not part of the general ledger; they are supplemental accounts that provide the detail to support the balance in a control account.
Accounts receivables has debit balance as normal balance of account and shown in current assets in balance sheet.
yes there is 1 but i forgot it
yes there is 1 but i forgot it
yes there is 1 but i forgot it