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JAMB Principles of Accounts 2014 Question 27

Question 27

Control Accounts

The value of the sales ledger control account is derived from the summation of

  1. A.the total debtors' account.
  2. B.the total creditors' account.
  3. C.all day books.
  4. D.both the debtors' and creditors' accounts.
Show the answer and explanation

Answer: A (the total debtors' account.)

Explanation

The sales ledger control balance equals the total of all the debtors' accounts.