a subsidiary accounts payable ledger shows the amounts debited to which of the following?\ninventory\ngross…
a subsidiary accounts payable ledger shows the amounts debited to which of the following?\ninventory\ngross sales\nnet income
Answer
Answer:
None of the above options are correct. A subsidiary accounts - payable ledger shows amounts owed to creditors (accounts payable), not amounts debited to inventory, gross sales, or net income.
Brief Explanation:
A subsidiary accounts - payable ledger tracks individual creditor accounts. Inventory is an asset account, gross sales is related to revenue, and net income is the result of revenue minus expenses. None of these are debited in an accounts - payable ledger.