Lastly, in a general ledger, most transactions have different characteristics, but in an accounts receivable subsidiary ledger, a company records all transactions similarly.

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 ...