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Hi My Dear Tutor, I have a question.
as we know that list of balances are individual accounts but sometimes i face different names of individual account such as subsidiary account ledger, memorandum account which are understandable
I really forgot some parts of control accountDoes receivable ledger and sales ledger signify also individual account ledger?
does sales ledger control also means receivable ledger control account?
Does sales account means sales account general ledger?
The receivables ledger (sometimes called the sale ledger) is the book containing the individual receivable accounts.
The sales ledger control account is another (old-fashioned) name for the receivables ledger control account.
The sales account records all sales and is in the nominal (or general) ledger.
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