Answer to Question #52810 in Accounting for Abdulla Sabit
b) Describe the relationship between a control account and subsidiary ledger.
b) With these details in the subsidiary ledger, the Accounts Receivable account in the general ledger can be a control account. As a control account, it will simply report the aggregate amounts of the accounts receivable activity.
By having the details of the accounts receivable activity in a subsidiary ledger, a company can better control its financial information.
Need a fast expert's response?Submit order
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!