Dr. Sales Ledger Control Account . Cr ₦₦Bal. b/f3,250Bal. b/f.215Sales19,075Bank16,387.50Dishonoured cheque625Discount862.50Stopped cheque250Returns…
Dr. Sales Ledger Control Account . Cr ₦₦Bal. b/f3,250Bal. b/f.215Sales19,075Bank16,387.50Dishonoured cheque625Discount862.50Stopped cheque250Returns…
Dr. Sales Ledger Control Account . Cr
| ₦ | ₦ | ||
| Bal. b/f | 3,250 | Bal. b/f. | 215 |
| 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 | ||
| 23,430 | 23430 | ||
| Bal b/d | 4,740 | Bal b/d | 230 |
Explanation
The ₦19,075 on the debit side labeled “Sales” represents credit sales made during the period. Sales ledger control account only tracks credit customers, not cash sales.
Cash sales don’t appear in this account because they’re paid immediately. Total sales includes both cash and credit. This account isolates credit sales only.
Key point: Sales ledger = credit sales. Cash sales are tracked separately in the cash book.