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WAEC Financial Accounting 2015 Question 23

Question 23

Control Accounts

Which of the following items is found in the sales ledger control account?

  1. A.Discount received.
  2. B.Total credit purchases.
  3. C.Discount allowed.
  4. D.Returns outwards.
Show the answer and explanation

Answer: C (Discount allowed.)

Explanation

Discount allowed to customers reduces debtors, so it is credited in the sales ledger control account.