Qn 1: What are the purposes of drawing up control accounts?
Ans: Refer to second slide of control accounts. There are Five purposes
Qn 2: Which source (journal) does sales revenue in a trade receivable control account derive from?
Ans: Sales Journal
Qn 3: Which source (journal) do cash receipts from trade receivables derive from?
Ans: Cash Book
Qn 4: Which source (journal) do bad debts derive from?
Ans: General Journal
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