Concept explainers
(a)
Subsidiary Ledger
Subsidiary ledger refers to the individual accounts, the summary of which is merged into the control account. It relives the burden on the general ledger and makes the posting easier and quicker.
Control account:
It is a general ledger account which summarizes the entire details about the subsidiary ledger data. The purpose of using control account is that to maintain the general ledger free from many details and provide clean and correct balances to be used in the financial statements.
To Identify: The balance of the
(b)
To Identify: The balance of the accounts payable control account after the monthly posting on July 31.
(c)
To Identify: under what account total column (161,400) of sales journal is posted.
(d)
To Identify: under what account total accounts receivable column of $131,000 in the cash receipts journal will be posted.

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