Which of the following statements is not correct?
A)When special journals are used, postings to the accounts receivable account in the general ledger are usually made once a month on the last day of the month.
B)Before any posting to the subsidiary ledger takes place, the equality of the debits and credits recorded in the sales journal are proved by comparing and cross footing the column totals.
C)Before any posting to the general ledger takes place, the equality of the debits and credits recorded in the sales journal are proved by comparing and cross footing the column totals.
D)Postings to the accounts receivable subsidiary ledger are usually made once a month on the last day of the month.

Question

Quizplus · Accepted Answer

Postings to the accounts receivable subsidiary ledger are typically made daily, not monthly. This ensures that the subsidiary ledger is always up-to-date, reflecting each customer's current balance. Monthly postings are more common for the general ledger summary accounts.

Which of the Following Statements Is Not Correct