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Describe in 250 to 300 words, your answers to the given:

a) What are the merits of the four different special journals? When would you use each kind?

b) What do you mean by subsidiary ledger and what purpose does it serve?

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

d) Which two general ledger accounts might act as control accounts for a subsidiary ledger?

e) What are the merits of using subsidiary ledgers?

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  • Category:- Accounting Basics
  • Reference No.:- M923157

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