What is an Accounts Receivable Subsidiary Ledger. A ledger that keeps a record of the customers that a business has extended credit to and how much they owe.

For example, assume that the following transactions have been posted to accounts payable subsidiary ledger: debits in the amount of $1,000 for purchase returns and discounts received, and credits ...

A corresponding debit or credit must be posted to another account for the same amount affecting accounts receivable.In the above example: Along with the sub-ledger journal entry, Pretty Petals ...

The ledger extends credit from a supplier and gives the business time to pay for the stock supplied. INTERNATIONAL BUSINESS TIMES. ... What is an Accounts Payable Subsidiary Ledger.