An Accounts Payable subledger is
A) A subsidiary ledger that contains an account for each supplier that grants credit to the company
B) A list of the balances of all the accounts in the Accounts Receivable ledger that is added to show the total amount of accounts receivable outstanding
C) A book of original entry that is designed and used for recording only a specified type of transaction
D) The ledger that contains the financial statement accounts of a business
E) A subsidiary ledger that contains a separate account for each customer that grants credit to the company

Question

Quizplus · Accepted Answer

An Accounts Payable subledger is a subsidiary ledger that contains an account for each supplier that grants credit to the company. This ledger shows the details of each individual payable account, such as the amount owed, the invoice date, and the payment due date.

An Accounts Payable Subledger Is