13 A subsidiary ledger is 3PTS a. b. c. Used in place of the general ledger if the general ledger is destroyed or stolen A group of accounts used by branches and subsidiaries of a corporate business A group of accounts with a common characteristic that provides detailed information about a control account in the general ledger Used to post excess transactions if a general ledger account becomes full during an accounting period d. 14 A sales journal is used to record 3PTS a. b. c. d. Only cash sales of merchandise Sales of all assets on credit and for cash Only credit sales of merchandise Credit sales of merchandise, sales returns and allowances, and sales discount 15 A company which uses special journals should record a transaction involving the purchase of merchandise for cash in a 3PTS a. One column purchases journal b. Multi column purchases journal c. Cash payments journal d. General journal 16 Entries in the purchases journal are made 3PTS a. b. c. d. From sales invoices From the general journal Without supporting document From purchase invoices 17 The income summary account is closed to: 3pts a. b. c. d. Cash account Withdrawals account Service revenue account Capital account Revenues Expenses and withdrawals would not appear on a (n) 3pts 1. Post-closing trial balance 2. Adjusted trial balance 3. Unadjusted trial balance 4. Work sheet. 18