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Chapter 20
Example 3: Solution (cont.)
A list of receivables' balances extracted at 31 January 20X1 was as follows:
$
Khan 1,142
P Binns 775
J Harris 234
C Bloggs 164
–––––
Total 2,315
The sales ledger control account can be compiled from the total of the entries
made to the individual receivables accounts, using the totals in the various
books of prime entry, as follows:
Sales ledger control account
Dr $ Cr $
Sales returns
01-Jan Balance b/d 1,870 31-Jan day book 235
Cash received
31-Jan Sales day book 1,410 31-Jan book 695
Discount
allowed 35
31-Jan Balance c/d 2,315
3,280 3,280
01-Feb Balance b/d 2,315
382
