- This topic has 1 reply, 2 voices, and was last updated 6 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
Sir what does it mean by If the sales day book is undercast , the entries to the sales and receivables ledger control accounts will be equal but for the wrong amount. This will not resuly in an imbalance on the trial balance..
I have watched your videos bt now m solving questions…can you please explain me this statement? Undercast means added less?Yes – undercast means under-added (I explain the term in earlier lectures).
The double entry to sales and receivables is of the total in the sales day book. So even if the total in the sales day book is wrong, the same (wrong) figure will have been entered in both accounts. So the debit will equal the credit and therefore the trial balance will still balance.
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.