On Monday, April 10, 2017, starting at 6:30 pm, at the Wallingford Town Hall, 75 School Street, Wallingford, the DRB will convene a Special Meeting to continue a Deliberative Session on Application 17-04 by MT Associates, dba Midway Oil Corp., for an illuminated wall sign.
In turn, the general ledger accounts receivable control account reflects the sum of the transactions in the subsidiary ledger, or a debit balance of $20,000. The accounts payable subsidiary ledger contains the accounts of each vendor that makes credit sales to the company. The sum of all vendor account balances in the accounts payable subsidiary ledger is equal to the balance of the general ledger accounts payable control account.
The Accounts Receivable account in the General Ledger. The Accounts Payable account in the following figure increases with credits and decreases with debits. Ideally, this account has a credit balance because money is still due to vendors, contractors, and others. A zero balance here equals no outstanding bills.