Accounting for IGCSE & O level - Accounting Procedures (Section 17 - No. 20)

What should be done if the sales ledger control account does not agree with the total of the individual customer balances?

Immediately post the difference to retained earnings.

Assume there are no errors.

Investigate to find and correct the errors.

Ignore the difference, as it is usually insignificant.

Discrepancies need to be investigated to find errors.