Which of the following is a debit entry in debtors control account?
FINANCIAL
JAMB 2015
Which of the following is a debit entry in debtors control account?
- A. discount allowed
- B. return inwards
- C. credit sales
- D. cash from debtors
Correct Answer: C. credit sales
Explanation
The debtors' control account is an account in the GL that shows the total of all transactions with debtors. Entries must still be made using the double entry method (credit/debit), but the following totals are entered: The sales journal totals, or the total amount of credit extended.
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