Which Accounts in the General Ledger Are Affected When the Monthly

question 87

Multiple Choice

Which accounts in the general ledger are affected when the monthly posting is made from the sales journal?

• A) Accounts Receivable; accounts receivable subsidiary accounts
• B) Accounts receivable subsidiary accounts; Sales Revenue
• C) Accounts Receivable; Sales Revenue
• D) Accounts Receivable; Purchases

---

Definitions:

Account Groups

Classifications of accounts that share common characteristics, used to organize and summarize financial information in the general ledger.

Cash

Money in the form of bills or coins; an asset that is readily available for transactions.

Dividends

Distribution of a corporation’s earnings to stockholders.

Closed

Refers to an account, operation, or period that has been finalized and no longer available for transactions or adjustments.