AAMI Accounting 2 unit 5-6 Exam with Questions and Answers

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...