After posting is completed in the accounts receivable ledger and the g ledger, the total of the accounts receivable ledger balances should the a. accounts payable account balance. b. accounts receivable account balance. c. cash account balance. d. net income amount.
After posting is completed in the accounts receivable ledger and the g ledger, the total of the accounts receivable ledger balances should the a. accounts payable account balance. b. accounts receivable account balance. c. cash account balance. d. net income amount.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:d. controlling account.
11. After posting is completed in the accounts receivable ledger and the general
ledger, the total of the accounts receivable ledger balances should equal
the
a. accounts payable account balance.
b. accounts receivable account balance.
c. cash account balance.
d. net income amount.
12. With a special journal, summary postings of column totals are made to
appropriate accounts
a. monthly.
b. daily.
c. yearly.
d. on a periodic basis.
ans e
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