Dr. Sales Ledger Control Account . Cr
| ₦ |
₦ |
||
| Bal b/f | 3,250 | Bal b/f | 125 |
| Sales | 19,075 | Bank | 16,387.50 |
|
Dishonoured cheque |
625 | Discount |
862.50 |
|
Stopped cheque |
250 | Returns inwards | 325 |
| Bal c/d | 230 | Set off | 900 |
| Bal c/d | 4740 | ||
| 23430 |
23430 |
||
| Bal b/d | 4740 | Bal b/d | 230 |
The amount ₦19,075 represents
- the double entry for the total sales account
- total sales for the month
-
credit sales
- cash sales for the month
The correct answer is: C
Explanation
The amount ₦19,075 represents credit sales. In the Sales Ledger Control Account, the 'Sales' line item typically represents credit sales made during the period. Cash sales would usually be recorded directly in the bank or cash account, not in the sales ledger control account. The sales ledger control account is used to record transactions with credit customers, including sales, payments, returns and discounts.