Questions: Select all that apply Show your understanding of the posting procedure from a sales journal to a subsidiary ledger by selecting the correct statements below. (Check all that apply.) Posting to individual customer accounts regularly keeps customer accounts up-to-date. The total of the Accounts Receivable Dr./Sales Cr . column is posted daily to subsidiary ledger. Individual transactions are posted daily to the customer accounts affected in the subsidiary ledger. After posting to a customer's account in the subsidiary ledger, check marks are entered in the sales journal's PR column.

Select all that apply Show your understanding of the posting procedure from a sales journal to a subsidiary ledger by selecting the correct statements below. (Check all that apply.) Posting to individual customer accounts regularly keeps customer accounts up-to-date. The total of the Accounts Receivable Dr./Sales Cr . column is posted daily to subsidiary ledger. Individual transactions are posted daily to the customer accounts affected in the subsidiary ledger. After posting to a customer's account in the subsidiary ledger, check marks are entered in the sales journal's PR column.
Transcript text: Select all that apply Show your understanding of the posting procedure from a sales journal to a subsidiary ledger by selecting the correct statements below. (Check all that apply.) Posting to individual customer accounts regularly keeps customer accounts up-to-date. The total of the Accounts Receivable Dr./Sales Cr . column is posted daily to subsidiary ledger. Individual transactions are posted daily to the customer accounts affected in the subsidiary ledger. After posting to a customer's account in the subsidiary ledger, check marks are entered in the sales journal's PR column.
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Solution

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The correct statements are:

  1. Posting to individual customer accounts regularly keeps customer accounts up-to-date.
  2. Individual transactions are posted daily to the customer accounts affected in the subsidiary ledger.
  3. After posting to a customer's account in the subsidiary ledger, check marks are entered in the sales journal's PR column.

Explanation:

  1. Posting to individual customer accounts regularly keeps customer accounts up-to-date.

    • This statement is correct. Regular posting ensures that the balances in the customer accounts reflect the most current transactions, which is crucial for accurate record-keeping and customer relationship management.

  2. The total of the Accounts Receivable Dr./Sales Cr. column is posted daily to subsidiary ledger.

    • This statement is incorrect. The total of the Accounts Receivable Dr./Sales Cr. column is typically posted to the general ledger, not the subsidiary ledger. The subsidiary ledger contains individual customer accounts, and totals are not posted there daily.

  3. Individual transactions are posted daily to the customer accounts affected in the subsidiary ledger.

    • This statement is correct. Posting individual transactions daily to the subsidiary ledger ensures that each customer's account is updated with the latest sales and payments, maintaining accurate and timely records.

  4. After posting to a customer's account in the subsidiary ledger, check marks are entered in the sales journal's PR column.

    • This statement is correct. The check marks in the PR (Posting Reference) column of the sales journal indicate that the transaction has been posted to the subsidiary ledger, providing a clear audit trail and preventing duplicate postings.

By understanding these procedures, you can ensure accurate and efficient record-keeping in the sales journal and subsidiary ledger.

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