Session:7 Accounting Information Systems
Thought Provokers
Principles of Accounting, Volume 1: Financial Accounting | Leadership Development – Micro-Learning Session
Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-financial-accounting
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?