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JAMB Principles of Accounts 1995 Question 21

Question 21

Control Accounts

Sales ledger control account contains the total amount in respect of

  1. A.creditors
  2. B.debtors
  3. C.investors
  4. D.shareholders.
Show the answer and explanation

Answer: B (debtors)

Explanation

The sales ledger holds customers' (debtors') accounts, so its control account shows total debtors.