Final answer:
The most common subsidiary ledgers in accounting are Accounts Receivable, Accounts Payable, and Sales.
Step-by-step explanation:
The most common subsidiary ledgers in accounting are Accounts Receivable, Accounts Payable, and Sales.
1. Accounts Receivable: This subsidiary ledger keeps track of the amounts owed to the business by its customers. It shows the individual customer balances and details of the transactions related to sales on credit.
2. Accounts Payable: This subsidiary ledger records the amounts owed by the business to its suppliers. It includes information about individual supplier balances and details of credit purchases.
3. Sales: This subsidiary ledger provides a detailed breakdown of sales transactions. It includes information about individual sales amounts, discounts, and any applicable taxes.