Accounting for IGCSE & O level - Accounting Procedures (Section 15 - No. 8)
What is the primary function of the Sales Ledger control account?
To record all cash sales.
To record all credit sales.
To act as a summary of the individual customer accounts in the Sales Ledger.
To calculate the profit margin on sales.
Explanation
The primary function of the Sales Ledger control account is to summarize and verify the accuracy of the transactions in the individual customer accounts.
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