The accounts receivable ledger:
A)Is for recording credit sales.
B)Is for storing transactions data for individual customers.
C)Is for storing transactions data for individual creditors.
D)Is for recording cash receipts from customers.
E)Is also the controlling account.

Question

Quizplus · Accepted Answer

The accounts receivable ledger is used to store transactions data for individual customers. It tracks payments and outstanding balances for each customer who has purchased goods or services on credit. The ledger can be used to generate customer statements and aging reports to help manage accounts receivable.

The Accounts Receivable Ledger