Sales Ledger Flashcards
0
Q
Balance brought down
Debit or credit?
A
Debit (unless negative)
1
Q
Sales ledger account
A
Debit: anything that increases the amount owed by the customer
Credit: anything that decreases the amount owed by the customer
2
Q
Sales
Debit or credit?
A
Debit
3
Q
Dishonoured cheque and it’s discount (if any)
Debit or credit
A
Debit
4
Q
Receipts from customers
Debit or credit?
A
Credit
5
Q
Discount allowed
Debit or credit?
A
Credit
6
Q
Contra
Debit or credit?
A
Credit
