1. Why is it necessary for a business to keep personal accounts of accounts receivable and accounts...

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1. Why is it necessary for a business to keep personal accounts of accounts receivable and accounts payable in subsidiary ledgers?

2. Why do entries in personal accounts not form part of the double-entry?

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Fundamental Accounting

ISBN: 9781485112112

7th Edition

Authors: David Flynn, Carolina Koornhof, Ronald Arendse, Anna C. E. Coetzee, Edwardo Muriro, Louise Christel Posthumus, Louise Mancy Smit

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Question Posted: Aug 30, 2023 03:45 AM

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1. Why is it necessary for a business to keep personal accounts of accounts receivable and accounts...

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Necessity of Subsidiary Ledgers for Accounts Receivable and Accounts Payable Subsidiary ledgers are a way for businesses to organize and manage detailed information about individual customer accounts ...View the full answer

Fundamental Accounting

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