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Hi John,
Could you confirm if the sales control account is the same as the receivables ledger control account please?
The sales control account didn’t have ‘ledger’ in the name and I know this might be overly pedantic on my part, but thought best to check.
Thank you
Without seeing the question I cannot be certain, but I would certainly imagine that it referred to the receivables ledger control account.
The question was:
In reconciling the receivables ledger control account with the list of receivable ledger balances of SK, the following errors were found:
1) the sales day book had been overcast by $370
2) a total of $940 from the cash receipts book has been recorded in the receivables ledger control account as $490What adjustments must be made to correct the errors?
A) credit sales control account 820. Decrease total of receivables ledger balance by 820
B) credit sales control account 820. No change of receivables ledger balance
C) debit sales control account 80. No change of receivables ledger balance
D) debit sales control account 80. Increase total of receivables ledger balance by 80Yes – here it definitely means the receivables ledger control account 🙂
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