Accounting for IGCSE & O level - Accounting Procedures (Section 23 - No. 45)
What would be the impact of a credit note issued to a customer on the Sales Ledger Control Account?
Debit to the Sales Ledger Control Account.
Credit to the Sales Ledger Control Account.
No change to the Sales Ledger Control Account.
It depends on the customer's payment method.
Explanation
A credit note reduces the amount due from a customer, leading to a credit entry in the Sales Ledger Control Account.
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