Accounting for IGCSE & O level - Accounting Procedures (Section 22 - No. 13)
If a sale of $1,000 was correctly recorded in the sales account but not in the customer's account, what would be the impact on the Sales Ledger Control Account?
No impact.
It would be overstated.
It would be understated.
It would need to be recalculated.
Explanation
The control account would be understated as it would show a lower value than the combined customer accounts.
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