Which of the following statements is not correct? ? Postings to the accounts rec

Question

Which of the following statements is not correct? ? Postings to the accounts receivable subsidiary ledger are usually made once a month on the last day of the month. ? Before any posting to the subsidiary ledger takes place, the equality of the debits and credits recorded in the sales journal are proved by comparing the column totals. ? When special journals are used, postings to the accounts receivable account in the general ledger are usually made once a month on the last day of the month. ? Before any posting to the general ledger takes place, the equality of the debits and credits recorded in the sales journal are proved by comparing the column totals.

Explanation / Answer

Ans

Posting to the accounts receivable subsidiary ledger are usually made once a month on the last day of month.

Subsidiary ledgers are used to keep track of individual account balances with common characteristics eg-accounts receivable.Posting are made daily to subsidiary ledgers to ensure account information is correct

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