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Chapter 11 – Posting to General and Subsidiary Ledgers
Section 11-1
Subsidiary Ledger –
Accounts Payable Ledger –
Accounts Receivable Ledger –
Controlling Account –
A vendor number is assigned to each account. The three digit number represents which division the
_______________ account appears in the general ledger and the location within the ___________
ledger.
Remember: The ___________ amount owed to all ___________ is summarized in a single general
ledger account called _______________ ______________.
When the ____________ of a vendor account is changed, so does the balance of the ___________
_____________ (Accounts Payable).
General Ledger
Accounts Payable Ledger
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Each new account is opened by:
1.
2.
Each entry in the Purchases Journal affects the account of the _________ named in the Account
Credited column.
Each entry in the ____________ ___________ column of the Cash Payments Journal affects a vendor
account.
Entries in the General Journal may affect account balances in a ___________ _____________ and an
____________ ___________ ledger.
This is called Posting Individually.
Schedule of Accounts Payable –
A controlling account balance in a general ledger must _________ that sum of all account balances in a
______________ ledger.
Section 11-2
Accounts are given a three digit number and the first number represents that the controlling account is
in the _________ section.
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General Ledger
Accounts Receivable Ledger
Each new account is opened by:
1.
2.
Each amount in a Sales Journal’s ___________ ____________ debit column is posted to the
___________ ___________ ledger.
Each entry in the Accounts Receivable credit column of the Cash Receipts Journal affects the
_____________ named in the Account Title column.
Entries in the General Journal may affect account balances in the __________ ledger and an
___________ _____________ ledger.
This is called Posting Individually.
Schedule of Accounts Receivable –
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Section 11-4
Special Journals are totaled and ruled at the end of each month. The totals from each of the Special
Amount columns are posted into the appropriate ledger.
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ALL special journals are totaled and ruled at the end of each month. After all journals have been posted
individually then the ____________ of the special journals are posted.
The journals MUST be posted in the following order (to avoid balances being negative to some point in
the posting):
1.
2.
3.
4.
5.
Post all the money we get before the money we spent.
Section 11-5
Errors may be made in recording amounts in ______________ ledgers that do not affect the controlling
account in the general ledger. Such errors could be posting into the wrong customer or vendor
account.
December 10. Discovered that a sale on account to Cumberland Center on December 3 was incorrectly
charged to the account of Country Crafters, $412.00. Memo # 56.
Once the correcting transaction has been journalized, the transaction must be __________ into the
correct subsidiary accounts. NOTICE there is no slash in the Post. Ref. column because no correction
needs to be made to the ______________ account.