- June 27, 2021 at 2:52 pm #626472Manjot.10kMember
- Topics: 1
- Replies: 3
A business had a receivables’ ledger control account did not agree with the total of the
balances on the receivables’ ledger. An investigation revealed that the sales day book had
been overcast by $10.
What effect will this have on the receivables’ ledger control account?
A The control account should be credited with $10
B The control account should be debited with $10
C The control account should be credited with $20
D The control account should be debited with $20June 28, 2021 at 5:55 am #626497John MoffatKeymaster
- Topics: 56
- Replies: 51583
The total from the day book will have been entered on the debit side of the control account.
However the total had been overcast and so was more that it really should have been. Therefore the total entered in the control account needs to be reduced by $10 and we do this by crediting the control account.
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