Control accounts Flashcards
1
Q
sales ledger
A
credit sales - debit
return inwards / sales return - credit cash received - credit discounts allowed - credit bad debts written off - credit Purchase ledger contra - credit Supplier a/c - credit
2
Q
Purchase ledger
A
cash paid - debit discounts received - debit Return outwards / - debit Sales ledger contra - debit Customer a/c - debit
Purchases - credit
3
Q
What is not recorded
A
CASH SALES and CASH PURCHASES
