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Q3-Differentiate between the general ledger, subsidiary ledgers and reconciliation accounts. Explain how they are related....

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Accounting

Q3-Differentiate between the general ledger, subsidiary ledgers and reconciliation accounts. Explain how they are related. Support your answer with examples.

Q4-

Lets consider this scenario

ABC Company would like to sell bicycles to two customers on credit. The sales are as follow: $2000 from Customer 1 and $1000 from Customer 2.

Prepare the T-accounts to record the sales for each customer in the accounts receivable subledger accounts and illustrate how it will appear in the general ledger accounts.

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