Describe the procedure for posting each of the following a From the sales journal to the accounts receivable ledger b From the purchases journal to the accounts payable ledger ...

a Post individual amounts to the credit customer accounts in ...

Describe the procedure for posting each of the following: a. From the sales journal to the accounts

Question:

Describe the procedure for posting each of the following:
a. From the sales journal to the ledger
b. From the purchases journal to the ledger

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...