AAMI Accounting 2 unit 5-6 Exam with Questions and Answers, Exams of Financial Accounting

AAMI Accounting 2 unit 5-6 Exam with Questions and Answers Ledger ANSWER✓✓ Is a record that contains all accounts. Journal ANSWER✓✓ Is the chronological record of all transactions that occur in a business. General Journal ANSWER✓✓ This is used to record transactions for which there is NO special journal. Special journal ANSWER✓✓ Is used for only a single type of transaction such as sales or purchase journal. Subsidiary Ledger ANSWER✓✓ Is used for a single type of account and is subordinate to the general ledger. statement of account ANSWER✓✓ This is sent to each credit customer (mostly monthly). Reports the balance due from the customer. A/R Ledger ANSWER✓✓ This Ledger is a Subsidiary Ledger; contains an account for each credit customer. Sales journal cash receipts journal or general journal ANSWER✓✓ Postings made in the A/R Ledger will come from...