A general ledger contains all balance sheet and income statement accounts. A general ledger controlling account represents a summary of transactions recorded in a subsidiary ledger. In turn, a ...

Accounts receivable are sales that are made but not yet paid for. They are actually a form of short-term unsecured credit extended on the basis of a customer's promise to pay. Terms are generally ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...