Debit Postings to the Individual Accounts in an Accounts Receivable

question 62

Multiple Choice

Debit postings to the individual accounts in an accounts receivable subsidiary ledger generally come from the

• A) sales journal.
• B) cash receipts journal.
• C) purchases journal.
• D) cash payments journal.

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Definitions:

Current Liabilities

Short-term financial obligations that are due within one year or within the normal operating cycle of a business.

Accounts Receivable

Money owed to a business for goods or services that have been delivered or used but not yet paid for by customers.

Current Liabilities

Debts or obligations that are due to be paid within one year or within the normal operating cycle of the business, whichever is longer.

Accounts Receivable

Money owed to a business by its customers for goods or services that have been delivered but not yet paid for.