The Individual Amounts in the 'Accounts Receivable' Column of the Sales

question 50

Multiple Choice

The individual amounts in the 'Accounts receivable' column of the sales journal are posted:

• A)individually to the sales account in the general ledger.
• B)individually to the accounts receivable account in the general ledger.
• C)in total to the accounts receivable subsidiary ledger.
• D)individually to the accounts receivable subsidiary ledger.

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Definitions:

Limited Partnership

A business organization that has at least one general partner, who assumes unlimited liability, and at least one limited partner, whose liability is limited to his or her investment in the business.

Personal Assets

Anything of value owned by an individual that can be converted into cash or is available to meet debts, commitments, or legacies.