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Control account reconciliations – guidance needed

Forums › CIMA Forums › Control account reconciliations – guidance needed

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by Manu79.
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  • November 6, 2023 at 11:36 am #694473
    bturk90
    Participant
    • Topics: 1
    • Replies: 0
    • ☆

    The balance on the trade receivable control account is 57,852 and the balance of the total of the individual trade receivable is 59,152.

    The difference may be due to:

    A. entering a discount allowed of 650 on the debit side of the control account

    Why is this the correct answer? I assume that when you debit anything in the control account, it would increase in relation to the individual trade receivable account x 2, but this is having the opposite effect.

    Any help would be greatly appreciated!

    November 6, 2023 at 7:39 pm #694490
    Manu79
    Participant
    • Topics: 1
    • Replies: 1
    • ☆

    Hi

    as you mentioned in your post, a discount allowed debited to receivable control account should result in a higher debit balance, therefore, maybe there was a typo error in the book. I have happened to come across such mistakes, so it is not unusual

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