Suppliers accounts are found in the …………………. ledger
Source: JAMB · 2024
Suppliers accounts are found in the …………………. ledger
Explanation
A purchase ledger (also called the bought ledger or creditors ledger) holds the accounts of suppliers. These are the people the business buys goods from on credit.
Each supplier has an account showing what the business owes. This keeps credit purchases separate from the main books.
The general ledger holds the main accounts such as capital and assets. The nominal ledger holds income and expense accounts. A private ledger holds confidential owner matters, not suppliers.
Was this explanation helpful?
Something wrong or missing? Tell us — we read every report and fix issues fast.