Accounting Chapter 11

Subsidiary Ledger

• Chart of specific accounts that are not included in the general ledger

• Account in the general ledger for which a corresponding subsidiary ledger has been created

• Contains the detail for all invoices received from suppliers

• Subledger in which is recorded all credit sales made by a business

Accounts Payable Ledger

• Chart of specific accounts that are not included in the general ledger

• Account in the general ledger for which a corresponding subsidiary ledger has been created

• Contains the detail for all invoices received from suppliers

• Subledger in which is recorded all credit sales made by a business

Accounts Receivable Ledger

• Chart of specific accounts that are not included in the general ledger

• Account in the general ledger for which a corresponding subsidiary ledger has been created

• Contains the detail for all invoices received from suppliers

• Subledger in which is recorded all credit sales made by a business

Controlling Account

• Chart of specific accounts that are not included in the general ledger

• Account in the general ledger for which a corresponding subsidiary ledger has been created

• Contains the detail for all invoices received from suppliers

• Subledger in which is recorded all credit sales made by a business

Schedule of Accounts Payable

• Subledger in which is recorded all credit sales made by a business

• Listing of all vendors in the accounts payable ledger that the company currently owes money along with current account balances

• A report that lists all amounts owed by customers

• Contains the detail for all invoices received from suppliers

Schedule of Accounts Receivable

• Subledger in which is recorded all credit sales made by a business

• Listing of all vendors in the accounts payable ledger that the company currently owes money along with current account balances

• A report that lists all amounts owed by customers

• Contains the detail for all invoices received from suppliers