Question on: JAMB Accounting - 2022
Which of the following is a debit item in the sales ledger control account
Cheque reciepts
Dishonoured cheques
Discount allowed
Bills recievable
In accounting, a sales ledger control account is used to track and summarize transactions related to accounts receivable. Debit and credit entries in this account depend on the nature of the transaction.
- Cheque receipts and Bills receivable are typically credit items as they represent inflows of cash or promises to pay in the future.
- Discount allowed is also a credit item, as it represents a reduction in the amount owed by a customer.
On the other hand, Dishonoured cheques are considered a debit item. When a customer's cheque is dishonoured, it means the payment is not accepted, resulting in a decrease in the amount owed by the customer. Therefore, it is a debit item in the sales ledger control account.
Hence, Dishonoured cheques is the correct answer.
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