Accounting for IGCSE & O level - Accounting Procedures (Section 12 - No. 3)
In a Sales Ledger Control Account, what would a credit balance typically indicate?
Total amounts owed to the business.
Total amounts received from customers.
Customer overpayments.
The business has a net loss.
توضیح
A credit balance in a Sales Ledger Control Account would indicate overpayments by customers, or potentially returns of sales.