Accountants please could you help with the following journal?
Cash received from customers was £29,560.49. This was posted to the sales ledger control account as £25,960.49. Please could you draw up a journal for that. Thank you.
Other - Business & Finance - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
No, no I will not.
Answer 2 :
The sales ledger control account must balance to all the individual debtors balances. There will be a Credit balance(as sales ledger control account is understated) in the suspense account of £3600 on the trial balance. therefore: Debit : Suspense Account £3,600.00 Credit : Sales Ledger control Account £3,600.00 Hope thats correct.
Answer 3 :
Debit cash 3600, credit accounts receivable, 3600.
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