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Select all that apply Show your understanding of an accounts payable subsidiary ledger by selecting...

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Accounting

Select all that apply Show your understanding of an accounts payable subsidiary ledger by selecting the correct statements below. (Check all that apply.) Multiple select question. Accounts Payable is the controlling account in the general ledger. The subsidiary ledger is updated at the end of the month and updates are made to the Accounts Payable account in general ledger at that time. Every general ledger account is supported by an accounts payable subsidiary ledger. The accounts payable subsidiary ledger is a supporting record of all short-term vendor amounts owed in the company. The total of the vendor accounts in the subsidiary ledger will also be the total in the Accounts Payable account in the general ledger. Every credit transaction that impacts a vendor account will also impact the Accounts Payable account in the general ledger

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