Quiz 3 Flashcards
1
Q
what is a sales book ?
A
a book or journal used for recording sales of a goods on credit
2
Q
what does the invoice contain?
A
Date, debtor name, folio column, total amount ($), invoice number
3
Q
which is used to record credit for sales ?
A
Sales day book
4
Q
which is used for the ledgers of the sales account?
A
Sales ledger
5
Q
what is credit control used for ?
A
to make sure that a business only gives credit to customers who are able to pay, and that customers pay on time.
6
Q
what is a debtor?
A
A debtor is someone who owes the businesses money.
