a. Identify three books of account from which entries are made into control accounts
b. State two uses of control accounts
c i. List four items each which would be recorded on the debit side of:
-Purchases Ledger Control Account
c ii. List four items each which would be recorded on the debit side of:
– Sales Ledger Control Account
Explanation
a. - Sales ledger account
- Purchase ledger account
- General ledger account
b. - It is used to detect missing figures
- It helps to prevent fraud
c i. - Cheque to creditors
- Cash to supplier
- Discount received
- Bill payable
c ii. Dishonored cheque
- Carriage outward
- Discount disallowed
- Debit note issued