If the individual subsidiary ledger accounts contained the following data: Cadence Company, Vendor, $169, credit balance...
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If the individual subsidiary ledger accounts contained the following data: Cadence Company, Vendor, $169, credit balance Franklin Enterprises, Customer, $404, debit balance Marcelo Construction, Client, $450, debit balance Peyton Supplies, Supplier, $126, credit balance The accounts receivable (A/R) control account and the accounts payable (A/P) control account balances would be: a. A/R, $295; A/P, $854 b. A/R, S854; A/P, $295 CC. A/R, S126, A/P, S169 Cd. AR, S404; A/P, S450 If the individual subsidiary ledger accounts contained the following data: Cadence Company, Vendor, $169, credit balance Franklin Enterprises, Customer, $404, debit balance Marcelo Construction, Client, $450, debit balance Peyton Supplies, Supplier, $126, credit balance The accounts receivable (A/R) control account and the accounts payable (A/P) control account balances would be: a. A/R, $295; A/P, $854 b. A/R, S854; A/P, $295 CC. A/R, S126, A/P, S169 Cd. AR, S404; A/P, S450
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1 Account receivable control account It is also knows as adjustment or sales ledger control account ... View the full answer
Related Book For
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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