What is a Receivables ledger?

• A. A ledger that keeps individual balances of each customer
• B. A ledger that records only total debtors
• C. A ledger for supplier balances
• D. A general list of assets

Answer: (A)

A Receivables ledger is the sub-ledger that records the individual balances of each customer who owes money to the business. Each customer has their own account showing invoices issued, payments received, and the resulting balance. This detail lets you see who owes what and when payments are due, and the sum of all these customer balances should match the Debtors Control account in the general ledger, giving a quick check on accuracy.

So, this description fits best because it emphasizes keeping separate, customer-by-customer records rather than just a single total. A ledger that records only total debtors would be the Debtors Control account in the general ledger, not the Receivables ledger. A ledger for supplier balances tracks amounts owed to suppliers (Payables/Creditors ledger), not money owed by customers. A general list of assets is not specifically about customer debts.