Accounting for IGCSE & O level - Accounting Procedures (Section 13 - No. 22)
Which statement best describes a debit balance in the Purchases Ledger Control Account?
The business has overpaid a supplier.
The business owes money to suppliers.
A sales return has occurred.
A credit purchase has occurred.
Explanation
A debit balance in the Purchases Ledger Control Account implies that the business has overpaid the supplier.
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