Question 8 A controlling account that equals the total of all customer accounts is: O Accounts Payable. O Accounts Receivable O Cash O Purchases.

What types of accounts are increased with a credit?

What is a prepaid account? What type of account is it?

Explain what is meant by the term real accounts (also known as permanent accounts).

Why must the Accounts Receivable account in the general ledger match the totals of all the subsidiary Accounts Receivable accounts?

The schedule of accounts payable lists each creditors account balance, and the total equals the _________________. a. Controlling account in the journal b. Accounts Payable account in the general ledger c. Accounts Receivable account in the general ledger d. Purchases account in the general ledger e. Sales account in the general ledger

How do Accounts Payable and Accounts Receivable differ?

Explain what is meant by the term nominal accounts (also known as temporary accounts).

Question 7 Which 4 transaction types can be made into recurring templates? Transfer Deposit Bill Inventory quantity adjustment Pay bills Paycheck Receive payment Invoice

Question 13 A subsidiary ledger containing only customer accounts is a/an: O Accounts payable ledger. O Accounts receivable ledger. O Customer Accounts receivable ledger. Subsidiary customer accounts ledger.