The sum of the account balances in the accounts receivable subsidiary ledger should equal the balance in the accounts receivable account in the general ledger.

Question

Quizplus · Accepted Answer

The accounts receivable subsidiary ledger contains detailed information on individual customer accounts, and its total should match the summary balance reported in the accounts receivable account in the general ledger, as this ensures accuracy and completeness in financial reporting.

The Sum of the Account Balances in the Accounts Receivable