Accounting Checkpoint Week 4
, week, or month as opposed to every specific amount received. The two most common general ledger accounts which may act as control accounts for a subsidiary ledger are accounts receivable and accounts payable. The advantage of using subsidiary ledgers is to free the general ledger of detailed information which can be totaled from individual accounts and then entered into the general ledger as one figure.
Weygandt, J.J., Kimmel, P.D., & Kieso, D.E. (2008). Financial accounting (6
ed.). Hoboken, NJ: Wiley.
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