Question
1. What is the purpose of an accounts receivable subsidiary ledger? 2. What information would be included in a subsidiary ledger for a companys fixed
1. What is the purpose of an accounts receivable subsidiary ledger?
2. What information would be included in a subsidiary ledger for a companys fixed asset account? Do you think it would be helpful to keep a fixed asset subsidiary ledger? Explain your answer.
3. In addition, please discuss why we need both subsidiary ledgers and the general ledger. Doesnt the use of subsidiary ledgers result in more work and recording transactions twice?
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
