1. When a customer pays within a certain time, he is eligible to receive a trade discount- true or false

2.. After all the transactions have been posted, the totals of the balances in the accounts receivable subsidiary ledgers should equal the balance of the Accounts Receivable account in the general ledger- true or false

3. A sales allowance is when a firm negotiates a reduction in the sales price of merchandise based on volume.- true or false

4. The accounts payable ledger provides information about the individual accounts for all creditors.- true or false