(a)Purchases ledger control Account is known to have a credit balance. Explain, using numerical example why at certain instances the account has both debit and credit balance brought down

(b)Construct a Sales Ledger Control Account, using your own numerical example, with five items of your choice

(c)Briefly discuss the role of the control accounts in the identification of missing figures in the financial statements of organizations.

Answer rating: 100% (QA)

a The budget for purchase ledger control or exchange creditor control account is part of the balance sheet that displays how much you owe your vendors ... View the full answer