You recorded a credit card payment by posting it to the primary subaccount . Then you created a journal entry (dated as of the credit card statement date) to correct the subaccount balances . Which 2 of the following would you expect when you then reviewed the subaccount balances ? The total liability would show up in the parent subaccount All the subaccounts (primary and non-primary) would show their respective liability balances as of the statement date All the subaccounts (primary and non -primary) would show a zero balance The total liability would show up in the primary subaccount The non-primary subaccounts would show a zero balance.

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The correct answers are 1 The total liability would show up in the parent subaccount 2 The nonprimar... View the full answer