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Hello sir Moffat, I hope you are well.
Another question please.You correct errors of the same entity but some affect Receivables ledger and some Receivables control account.
I understand that if no statement like ‘ Control accounts are maintained’ is given, then we neglect the effects on control accounts.
How should everything be done sir?
If no control accounts are maintained, then the double entries are directly to the individual receivables accounts in the receivables ledger.
Usually there are control accounts in which case the double entries are to the control accounts and the individual accounts are memorandum (note) only and are not part of the double entry.
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