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Chapter 16

3.2 Sales figures

The credit sales figure can be derived from using a sales 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 ledger account:
Sales ledger control account
Date Details $ Date Details $
Cash from
01 Jan Balance b/d X In year customers X
Cash discounts
In year Sales (bal figure) X In year allowed X
In year Irrecoverable debts X
In year Contra with PLCA X
31 Dec Balance c/d X
––– –––
X X

Illustrations and further practice

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