The balance on the receivables control account should be reconciled to which of the following?
A: The sales day book
B: The receivables ledger
C: Invoices and remittance advices
D: The cash book
A: The sales day book
B: The receivables ledger
C: Invoices and remittance advices
D: The cash book
举一反三
- To which of the following is the receivables ledger control account reconciled? A: Aged receivables analysis B: Payables ledger C: Receivables ledger D: Cash book
- The sales day book total has been undercast by $3,500. What adjustment needs to be made to reconcile the receivables control account to the receivables ledger? A: DR $3,500 to the receivables ledger B: CR $3,500 to the receivables control account C: CR $3,500 to the receivables ledger D: DR $3,500 to the receivables control account
- Which one of the following is not the purpose of a receivables ledger control account? A: A receivables ledger control account provides a check on the arithmetical accuracy of the personal ledger. B: A receivables ledger control account helps to locate errors in the trial balance. C: A receivables ledger control account ensures that there are no errors in the personal ledger. D: Control accounts help deter fraud
- Which one of the following is not a purpose of a receivables ledger control account?
- 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