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Q: A schedule of accounts payable is used to prove that the sum of the accounts payable ledger balances equals the Accounts Payable balance in the general ledger. True False
A: The accounts receivable ledger is a subledger in which you record all credit sales made by a business.
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User: A schedule of accounts payable is used to prove that the sum of the accounts payable ledger balances equals the Accounts Payable balance in the general ledger. True False

Weegy: The accounts receivable ledger is a subledger in which you record all credit sales made by a business.
Kaysha|Points 6436|

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: An invoice in the amount of $916 is subject to a trade discount of 10% and credit terms on 3/10, n/30. If the invoice is not paid within the discount period, the amount that would be paid to satisfy the invoice would be (Points : 3) $824.40. $888.52. $981.27. $916.00.

Weegy: $824.40 would be the amount to satisfy the invoice. $916 - 10% = $916-91.60 = 824.40
piash|Points 3292|

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 116|

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Asked 7/5/2013 11:54:02 PM
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