Home / Questions / The Schedule of Accounts Payable is listed alphabetically. 18) The accounts payable subsi
The Schedule of Accounts Payable is listed alphabetically.
18) The accounts payable subsidiary ledger should equal the control account in the general ledger.
19) Schedule of Accounts Payable is a list of customer accounts that owe the company money.
20) The Accounts Receivable and Accounts Payable are both controlling accounts.
21) A list showing the ending balances owed to individual creditors is called a Schedule of Accounts Payable.
22) Purchases of merchandise for cash are recorded in the purchases journal.
23) Trade discounts are recorded in the cash payments journal along with purchases discounts.
24) Payment for merchandise should not be made until approval is given.
25) Payments of cash are recorded in the cash receipts journal.
26) A cash disbursement journal and a cash payments journal are the same thing.
27) A list showing the ending balances owed to individual creditors is called a Schedule of Accounts Payable.
28) The controlling account is found in the subsidiary ledger for all accounts payable.
29) A buyer may not receive both a trade discount and a cash discount.
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