Which TWO of the following are credit entries in the receivables ledger control account?
A: Cash paid to credit suppliers
B: Discounts received
C: Irrecoverable debts
D: Sales returns from credit customers
A: Cash paid to credit suppliers
B: Discounts received
C: Irrecoverable debts
D: Sales returns from credit customers
举一反三
- Which of the following would not be found on the credit side of the receivables control account? A: Irrecoverable debts B: Sales C: Cash received D: Returns
- On 3rd March credit sales were made of $25,000, cash sales of $4,500 were made, and debts outstanding of $3,200 were written off as irrecoverable. What will be the total of entries for 3rd March to the receivables control account? A: Debit $21,800 B: Credit $21,800 C: Debit $26,300 D: Credit $26,300
- Ignoring sales tax, which of the following are the correct entries to post the total of the discounts received column in the cash book to the general ledger? A: DR discounts received, CR Purchases B: DR Payables control account, CR Discounts received C: DR Purchases, CR Discounts received D: DR Discounts received, CR Payable control account
- A business must write off an irrecoverable debt of $3,000.What is the journal entry to record this in the nominal ledger? A: Debit Trade receivables $3 ,000; Credit Sales $3,000 B: Debit Sales $3,000; Credit Trade receivables $3 ,000 C: Debit Irrecoverable debt expense $3,000; Credit Trade receivables $3,000 D: Debit Trade receivables $3,000; Credit Sales $3,000
- - Which one of the following items should not be credited to the trade receivables control account? A: Sales returns B: Refunds of customer over‐payments C: Contras D: Irrecoverable debts