control accoumt Flashcards
1
Q
Sales ledger control account - debit side
A
Balance b/d
Credit sales from the Sales Journal
Dishonoured cheques
Interest charged to customers
Credit balances c/d
Total
Balance b/d
2
Q
Sales ledger control account - credit side
A
Money received from trade receivables
Discounts allowed
Sales returns / Returns in
Irrecoverable debts written off
Contra entries against payables ledger
Balance c/d
Total
Credit balances c/d
3
Q
purchase ledger - debit
A
money paid to trade payables
discount received
purchase returns / returns out
contra entries against receivables ledger
c/d
total
b/d
4
Q
purchase ledger - credit side
A
b/d
credit purchases from purchases journal
dishonoured cheque
interest charged by payables
c/d
total
