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Chapter 16

3.2 Sales figures

The credit sales figure can be derived from preparing a receivables’ ledger control
account. The idea is to insert into the ledger account all known information, and then
to derive the missing information as a balancing figure.

This can be simplified using the following pro-forma control account:

Receivables ledger control account
Date Details $ Date Details $

01 Jan Balance b/d X In year Cash from customers X
In year Sales (β figure) X In year Sales returns X

In year Irrecoverable debts X
In year Contra with PLCA X

31 Dec Balance c/d X
––– –––

X X
––– –––

Illustrations and further practice

Now try question TYU 2 from Chapter 18 of the Study Text

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