Question

Match each subsidiary ledger and general ledger posting to one of the descriptions of activities Clear All Collections from customers on account No subsidiary ledger posting Adjustment for expired insurance Accounts receivable subsidiary ledger/Accounts Receivable Dr. Payments to creditors on account Accounts payable subsidiary ledger/Accounts Payable Dr. Accounts receivable subsidiary ledger/Accounts Receivable Cr Purchases on account Accounts payable subsidiary ledger/Accounts Payable Cr Sales on account

Answer 1

1	Collections from customers on account	Accounts receivable subsidiary ledger / Accounts Receivable Cr.
	Adjustment for expired insurance Accounts	No subsidiary ledger posting
	Payments to creditors on account	Accounts payable subsidiary ledger / Accounts Payable Cr.
	Purchases on account	Accounts payable subsidiary ledger / Accounts Payable Cr.
	Sales on Account	Accounts receivable subsidiary ledger / Accounts Receivable Cr.
2	Issued check for advertising expense.	CP
	Issued an invoice to a customer.	R, subsidiary posting
	Received a check from a customer for payment on account.	CR, subsidiary posting
	Purchased equipment on account.	P, subsidiary posting
	Issued check for rent.	CP
3	monthly adjustment for supplies used	General Journal
	record purchase on account from vendor	Purchase journal
	record sale on account to customer	Revenue Journal
	cash receipt posting to an individual customer account	Accounts receivable subsidiary ledger
4	Equipment purchased on account	Purchases Journal
	Payment for supplies bought on account	Cash Payment Journal
	Collection on account	Cash Receipt Journal
	Adjusting entry	General Journal
	Sale on account	Revenue Journal