bpp 17.15

The following balances have been extracted from the nominal ledger accounts of Tanya, but the figure
for bank loan is unknown. There are no other accounts in the main ledger.
$
Payables 27,000
Capital 66,000
Purchases 160,000
Sales 300,000
Other expenses 110,000
Receivables 33,000
Purchase returns 2,000
Non-current assets 120,000
Cash in bank 18,000
Bank loan Unknown
What is the credit balance on the bank loan account

answer

Debit balances $ $

Purchases 160,000
Non-current assets 120,000
Receivables 33,000
Other expenses 110,000
Bank 18,000
441,000

Credit balances

Payables 27,000
Capital 66,000
Sales 300,000
Purchase returns 2,000
395,000
Bank loan (credit balance) 46,000

dear sir, why is sales under credit? is it because dr receivable cr sales?

thank you.