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WAEC Financial Accounting 1993 Question 4

Question 4

Control Accounts

Which of the following is not contained in the Sales Ledger Control Account?

  1. A.Receipts from debtors
  2. B.Returns inwards
  3. C.Returns outwards
  4. D.Dishonoured cheques
  5. E.Discount allowed
Show the answer and explanation

Answer: C (Returns outwards)

Explanation

Returns outwards are goods sent back to suppliers, so they belong in the purchases ledger control account.