Question on: JAMB Accounting - 2024
Purchase Ledger Control Account
| # | # | ||
Cash paid to debtors | 15000 | Balance c/d | 5000 |
Bills payable | 3000 | Purchase journal | 30000 |
Discount received | 2500 | ||
Return outward | 1500 | ||
Sales ledger | 1200 | ||
Balance c/d | 11800 | ||
| 35000 | 35000 |
The item “sales ledger #1,200” represents:
A
cash paid to supplier
B
amount due from suppliers
C
cash purchases
D
credit purchase
Ask EduPadi AI for a detailed answer
Correct Option: B
The sales ledger amount of #1,200 represents the amount due from customers (debtors). It is not money owed to suppliers. The sales ledger records credit sales made to customers, and this balance reflects amounts customers still owe the business.
Add your answer
Please share this, thanks!
No responses