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5 Cards in this Set
- Front
- Back
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What are the subsidiary ledgers also known as? |
Receivables and Payables ledgers |
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What do the Subsidiary ledgers record? |
How much is owed to or from individual customers or suppliers |
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What do we record on the Left hand (debit) side of a customers ledger account, and does this increase or decrease the amount owed by the customer? |
Invoices, increase |
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What do we record on the right hand (credit) side of a customers ledger account, and does it increase or decrease the amount a customer owes? |
Credit notes, decrease |
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How do you calculate a customers outstanding balance from the Subsidiary ledgers? |
Total both sides and deduct right side from left. |
