Refer to Sales Journal below:
Sales Journal Jan 4 |
Cr. |
|
Archer Limited |
Bought 6 boxes of tiles |
1,000 |
Beta Company |
Purchased 8 boxes of tiles |
1,250 |
Cooper Limited |
Purchased a cord of timber |
1,800 |
Dunwoody Company |
Purchased spare parts |
200 |
Archer Limited |
Purchased concrete |
2,000 |
Beta Company |
Purchased tools |
900 |
Total sales |
7,150 |
Based on the information shown in the illustration above, the Accounts Receivable sub-ledger will contain:
Select one:
a. One account
b. At least six accounts
c. At least four accounts
d. At least five accounts
Correct answer-------------c. At least four accounts.
.
Accounts receivables sub ledger includes individual receivables accounts. Individual receivables are credit customers of a business.
In above case there are only 4 customers. Archer limited , Beta company, cooper limited and Dunwoody Company.
Archer limited and beta company purchased two items on same day but they will only have one account each for all transactions.
Refer to Sales Journal below: Sales Journal Jan 4 Cr. Archer Limited Bought 6 boxes of...
Refer to Sales Journal below: Sales Journal Jan 4 Cr. Archer Limited Bought 6 boxes of tiles 1,000 Beta Company Purchased 8 boxes of tiles 1,250 Cooper Limited Purchased a cord of timber 1,800 Dunwoody Company Purchased spare parts 200 Archer Limited Purchased concrete 2,000 Beta Company Purchased tools 900 Total sales 7,150 Based on the information shown in the illustration above, the Accounts Receivable sub-ledger will contain: Select one: a. One account b. At least six accounts c. At...