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Ledgers
Accounting Vocabulary
100
The ledger that contains all accounts needed to prepare financial statements is the
What is the general ledger
100
A cash discount taken by a customer
What is a sales discount
200
A ledger that is summarized in a single general ledger account is a
What is the subsidiary ledger
200
A form prepared by the vendor showing the amount deducted for returns and allowance.
What is a memorandum
300
A subsidiary ledger containing only accounts for vendors from whom items are purchased or bought on
What is an accounts payable ledger
300
A special journal used to record to record only cash receipt transactions.
What is a cash receipts journal
400
A listing of customer accounts, accounts balances, and total amount due from all customers is a
What is a schedule if accounts receivable.
400
Sales discounts are recorded in this journal
What is a cash receipts journal
500
The total amount of the purchases journal is posted to the general ledger account(s)
What is Purchases and Accounts Payable
500
An account in a general ledger that summarizes all accounts in a subsidiary ledger
What is a controlling account