Question

Which accounts in the general ledger are affected when the monthly posting is made from the sales journal?

A) Accounts Receivable; Purchases
B) Accounts Receivable; Sales
C) Accounts receivable subsidiary accounts; Sales
D) Accounts Receivable; accounts receivable subsidiary accounts

Answer 1

The monthly posting from the sales journal affects the Accounts Receivable and Sales accounts in the general ledger, reflecting an increase in both due to credit sales. The correct answer is B) Accounts Receivable; Sales.

Step-by-step explanation:

When the monthly posting is made from the sales journal to the general ledger, two main accounts are typically affected:

• Accounts Receivable: This account increases because the company has made sales on credit.
• Sales: This account increases reflecting the revenue earned from the sales made during the period.

Therefore, the correct answer is B) Accounts Receivable; Sales.

The accounts receivable subsidiary accounts are also updated to show the details of each customer's balance, but these are not part of the general ledger's main accounts; rather, they provide detail that supports the control account, Accounts Receivable.