Fragmental Co. leased a portion of its store to another company for eight months beginning on October 1, at a monthly rate of $9
75. Fragmental collected the entire $7,800 cash on October 1 and recorded it as unearned revenue. Assuming adjusting entries are only made at year-end, the adjusting entry made by Fragmental Co. on December 31 would be:
Subsidiary ledger are those kind of the ledger which is stated as the group of the similar or common accounts, whose combined balances are equal to the balance in the particular account of general ledger.
The general ledger is the account that summarizes or provide detailed information of the account balances of the subsidiary ledger is recognized as the control account or the master account.
The subsidiary ledger are those group of accounts which have a similar characteristic and provide summarized information regarding the control account.