Balancing the ledgers refers to establishing equality in all of the following except:
A)total debits and total credits in the general ledger.
B)Balance of A/R control account and A/R subsidiary ledger.
C)Balance of sales account in the general ledger and A/R subsidiary ledger.
D)Balance of A/P control account and A/P subsidiary ledger.

Question

Quizplus · Accepted Answer

Balancing the ledgers involves ensuring that total debits equal total credits in the general ledger, and that the balances of control accounts (like Accounts Receivable (A/R) and Accounts Payable (A/P)) match the total balances in their respective subsidiary ledgers. However, balancing does not involve matching the balance of a sales account in the general ledger with the A/R subsidiary ledger, as the sales account records revenue transactions, while the A/R subsidiary ledger tracks amounts owed by customers.

Balancing the Ledgers Refers to Establishing Equality in All of the Following