Thought Provokers

Thought Provokers

TP 1.

LO 7.2Why must the Accounts Receivable account in the general ledger match the totals of all the subsidiary Accounts Receivable accounts?

TP 2.

LO 7.2Why would a company use a subsidiary ledger for its Accounts Receivable?

TP 3.

LO 7.2If a customer owed your company $100 on the first day of the month, then purchased $200 of goods on credit on the fifth and paid you $50 on fifteenth, the customer’s ending balance for the month would show a (debit or credit) of how much?