An Accounts Payable subledger is
A)A subsidiary ledger that contains a separate account for each customer that grants credit to the company.
B)A book of original entry that is designed and used for recording only a specified type of transaction.
C)A subsidiary ledger that contains an account for each supplier that grants credit to the company.
D)The ledger that contains the financial statement accounts of a business.
E)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.

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. It is used to keep track of all of the company's obligations to pay its suppliers or vendors.

An Accounts Payable Subledger Is