Show your understanding of an accounts payable subsidiary ledger by selecting the correct statements below.
1) The accounts payable subsidiary ledger is a detailed record of all the accounts payable transactions of a company.
2) Each account in the accounts payable subsidiary ledger represents a specific supplier or vendor.
3) The accounts payable subsidiary ledger is used to track the amounts owed to each supplier or vendor.
4) The accounts payable subsidiary ledger is only used for recording cash payments made to suppliers or vendors.