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Q: A common approach to keeping a record of each customer's account receivable is to use a subsidiary accounts receivable ledger. (Points : 3) True False
A: A common approach to keeping a record of each customer's account receivable is to use a subsidiary accounts receivable ledger. True.
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Original conversation
User: A common approach to keeping a record of each customer's account receivable is to use a subsidiary accounts receivable ledger. (Points : 3) True False

Weegy: A common approach to keeping a record of each customer's account receivable is to use a subsidiary accounts receivable ledger. True.
bryboyhero|Points 230|

User: Merchandise inventory at the beginning of the period minus purchases plus merchandise inventory at the end of the period equals cost of goods sold for the period. (Points : 3) True False

User: FOB destination means free on board at origin of the shipment. (Points : 3) True False

User: Assume the gross amount of an invoice is $100 and a discount of 20% is allowed. The amount of the trade discount totals (Points : 3) $20. $65. $40. $80.

Weegy: The amount of the trade discount totals is: d. $80.
bolingit|Points 156|

User: A record used to keep the amount owed to each supplier is called a(n) (Points : 3) accounts receivable ledger. accounts payable ledger. transportation ledger. general ledger for accounts payable.

User: A common approach to keeping a record of each customer's accounts receivable is to use a(n) (Points : 3) sales journal. accounts receivable ledger. general ledger. controlling account.

Weegy: Special Journals are designed to facilitate the process of journalizing and posting transactions. They are used for the most frequent transactions in a business. [ For example, in merchandising businesses, companies acquire merchandise from vendors, and then in turn sell the merchandise to individuals or other businesses. Sales and purchases are the most common transactions for the merchandising businesses. A business such as a retail store will record the following transactions many times a day for sales on account and cash sales. ]
nlewis123|Points 180|

User: . Special journals enable a substantial time savings and make for a more efficient posting process. (Points : 3) True False



Weegy: Special journals enable a substantial time savings and make for a more efficient posting process.-is True.
Expert answered|emdjay23|Points 2376|

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Asked 9/24/2013 6:41:14 PM
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