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I need all the correct answer The Accounts Receivable Subsidiary ledger is a: a separate ledger maintaining the details affecting individual vendor accounts a separate
I need all the correct answer
The Accounts Receivable Subsidiary ledger is a: a separate ledger maintaining the details affecting individual vendor accounts a separate ledger maintaining the details affecting individual customer accounts controlling account never used in a manual accounting system QUESTION 2 The accrual of interest on December 31,2008 for a note receivable dated December 15,2008 would require the following adjusting ) debit Interest Receivable; credit Interest Income debit Interest Income; credit Interest Receivable debit inrerest Payable; credit Interest Expense debit Interest expense; credit Interest Payable QUESTION 3 The allowance for uncollectible accounts is necessary because a liability results when a credit sale is made when recording uncollectible accounts expense, it is not possible to predict specifically which accotnts will not be col management should know how many credit losses have been sustained over the years. uncollected accounts that are written off must be accumulated in a separate account
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