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9-1 SUBSIDIARY LEDGERS AND CONTROLLING ACCOUNTS

Horizontales
An account in the general ledger that summarizes all accounts in a subsidiary ledger
The subsidiary ledger containing vendors accounts
A business from which merchandise, supplies, or other assets are purchased.
A collection of accounts used to assemble similar transactions. Used to prepare financial statements.
Verticales
A business that purchases and resells good. It purchases merchandise on account from many vendors.
A ledger that is summarized in a single general ledger account. Accountants often refer to this as a subledger.
Founder of Three Green Products