Debtors Control Account
Balance b/d
xx
Cash/Bank
xx
Sales
xx
Discount Allowed
xx
Bank (Reverse Cheque)
xx
Return Inward
xx
Discount (cancelled)
xx
Bad Debts
xx
Other Charge by Debtor
xx
Contra
xx
Balance b/f
xx
total
total
Creditors Control Account
Cash/Bank
xx
Balance B/d
xx
Discount Received
xx
Purchase
xx
Return Outward
xx
Others Charge By Creditors
xx
Contra
xx
Balance b/f
xx
total
total
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
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.
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
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
Yes. The balancing entry is passed in the self balancing ledger.For e.g. an increase in debtors due to sales will have the following entry passed- Debtors Ledger Adjustment a/c[In the general ledger] dr. To Sales a/c General Ledger Adjustment a/c[In the Debtors Ledger] dr. To Debtors Ledger Adjustment a/c[In The general Ledger]