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I know in receivables and payable ledger control accounts in the general ledger the entries came from the prime books but in the personal payable and receivable ledgers from where the entries came first?
Also the prime books. For example, a sales day book has the following list of customers and invoices:
A Co 1000
B Co 2000
C Co 500Total 3500
3500 is debited to the receivables control account; 1000 is debited to A Co’s personal a/c, 2,000 is debited to B Co’s personal a/c and 550 is debited to C Co’s personal a/c.
Similarly in the receivables ledger column in the cash book and for the purchase transactions.
@Gromit said:
Also the prime books. For example, a sales day book has the following list of customers and invoices:A Co 1000
B Co 2000
C Co 500Total 3500
3500 is debited to the receivables control account; 1000 is debited to A Co’s personal a/c, 2,000 is debited to B Co’s personal a/c and 550 is debited to C Co’s personal a/c.
Similarly in the receivables ledger column in the cash book and for the purchase transactions.
Got it sir! but i guess in the end sentence you wanted to say the payable s ledger column not the receivables ,right?
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