XACC 280 Week 4 CheckPoint / Subsidiary Ledgers and Special Journals

Explain in 250 to 300 words, your answers to the following:

·         What are the advantages of the four different special journals? When would you use each type?

·         What is a subsidiary ledger and what purpose does it serve?

·         What is a control account and what purpose does it serve?

·         Which two general ledger accounts may act as control accounts for a subsidiary ledger?

What are the advantages of using subsidiary ledgers?