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WAEC Financial Accounting 2003 Question 25

Question 25

Control Accounts

Which of the following is not a credit item in the Sales Ledger Control Account?

  1. A.Cash paid
  2. B.Discount allowed
  3. C.Dishonoured cheque
  4. D.Returns inward.
Show the answer and explanation

Answer: C (Dishonoured cheque)

Explanation

A dishonoured cheque increases the debt again, so it is debited.