Accounting for IGCSE & O level - Accounting Procedures (Section 20 - No. 6)
A business has a sales ledger control account balance of $50,000. The total of the individual customer account balances in the sales ledger is $48,000. Which of the following is the most likely reason for the difference?
The sales ledger control account includes cash sales.
There are errors in the sales ledger.
The sales ledger control account includes purchases.
The sales ledger control account is incorrect.
Explanation
A difference would indicate errors within one or both accounts.
Comments (0)
