Hello, in this lecture we’re going to talk about the accounts receivable subsidiary ledger, the subsidiary ledger being the ledger that will be backing up the account of accounts receivable showing on the trial balance with 27,000. In it, in this case, accounts receivable being that accounts that represents what is owed to us. If we were the owner of the company, we might ask our accounting department, how much money do people owe us? In this case, it would be 27,000 would be the reply. Next follow up question would most likely be who owes us that money? And have we called them when are we going to get paid that money? In order to answer that question, we cannot look at the normal backup balance for all accounts that being the general ledger accounts. If we look at the GL we do get some detail in terms of the activity that has happened. However, that activity is not going to be in terms of who owes us the money. It’s in terms of date.
Posts with the Accounts Receivable AR Subsidiary Ledger Explained tag
Accounts Receivable AR Subsidiary Ledger Explained 5
Hello, in this lecture we’re going to talk about the accounts receivable subsidiary ledger, the subsidiary ledger being the ledger that will be backing up the account of accounts receivable showing on the trial balance with 27,000. In it, in this case, accounts receivable being that accounts that represents what is owed to us. If we were the owner of the company, we might ask our accounting department, how much money do people owe us? In this case, it would be 27,000 would be the reply. Next follow up question would most likely be who owes us that money? And have we called them when are we going to get paid that money? In order to answer that question, we cannot look at the normal backup balance for all accounts that being the general ledger accounts. If we look at the GL we do get some detail in terms of the activity that has happened. However, that activity is not going to be in terms of who owes us the money. It’s in terms of date.