Accounting for IGCSE & O level - Accounting Procedures (Section 1 - No. 9)
The balance on the sales ledger control account should equal the sum of:
The balances on trade payable accounts in the sales ledger
The sum of balances on the individual trade receivable accounts in the sales ledger
The balance on trade receivables accounts in the sales ledger
The balance on the profit and loss account in the sales ledger
Explanation
The balance on the sales ledger control account should equal the sum of balances on the individual trade receivable accounts in the sales ledger.
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