debtors
Sales control account is a summary of transactions relating to the debtors balance.the debtors ledger account is debited when there is an increase of the debtors balance and credited when there is a reduction of the debtors balance
i would like to know in what circumstances would a non trade debtors control account be used?
ahshshj
Yes, the sales ledger control account and the debtors control account are essentially the same. Both terms refer to an account that summarizes all transactions related to credit sales and outstanding amounts owed by customers. This account serves to reconcile the total receivables recorded in the sales ledger with the general ledger, ensuring accuracy in financial reporting.
debtors
Sales control account is a summary of transactions relating to the debtors balance.the debtors ledger account is debited when there is an increase of the debtors balance and credited when there is a reduction of the debtors balance
decrease with a credit
i would like to know in what circumstances would a non trade debtors control account be used?
ahshshj
The financial year of Ali & Co is closed on June 30, 2007. Data regarding Ali & Co isgiven below:Rs.Opening balanceDebtors 75,000Creditors 125,000Closing balanceDebtors 100,000Creditors 150,000SalesCash 100,000Credit 130,000PurchasesCash 80,000Credit 100,000Purchase returns (From credit purchases) 5,000Receipts from debtors ? 88500Payments to creditors ? 65000Discount allowed 2,000Discount received 5,000Bad debts written off 13,000Increase in provision for doubtful debts 2,500Required:Prepare Debtors control account and Creditors control account.
[Debit] Allowance for debtors account [Credit] Accounts receivable account
Accounts Payable.
It is related to "control" the accounts of debtors for some purposes.
Other Debtors account
The difference between trade debtors and sundry debtors is trade debtors are specific debts like credit cards. Sundry debtors are a wide variety of debtors that can be from any source.
branch debtor account is an account prepaid when the branch sell goods or credit. it necessary for recording all transctions concerning branchdebters and for acertaining the balance of debtors at branch