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Accounts that keep a balance of each individual customer or supplier are called?

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arshikhan8123

Accounts that keep a balance of each individual customer or supplier are called subsidiary accounts.

An accounts receivable subsidiary ledger is an accounting ledger that suggests the transaction and price history of every customer to whom the commercial enterprise extends credit score. The stability in every client account is periodically reconciled with the bills receivable balance inside the well-known ledger to make certain accuracy.

An income journal is a subsidiary ledger used to save distinct income transactions. Its most important reason is to put off a source of high-extent transactions from the general ledger, thereby streamlining the general ledger.

The income journal (also referred to as income book and sales day e book) is a special journal that is used to record all credit score income.

Learn more about accounts here: https://brainly.com/question/4656883

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