Which Statement Concerning the Accounts Payable Subsidiary Ledger Is Incorrect

question 21

Multiple Choice

Which statement concerning the accounts payable subsidiary ledger is incorrect?

• A)It keeps track of amounts owing to individual creditors.
• B)The postings from the purchases journal are to the credit of the individual subsidiary ledger accounts.
• C)The debit entries equal the credit entries.
• D)None of the above are incorrect,i.e.all are correct statements.

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