The sales ledger control account and the purchases ledger, Ask an Expert

Accounting

The given information has been extracted from the books of Misfit Ltd, trader, for the month of October 2008.

578_sales ledger balances.jpg

Required:

problem 1: The Sales Ledger Control account and the Purchases Ledger Control account for the month ended 31 October 2008 for Misfit Ltd.

problem 2: List in brief the uses and benefits of Control Accounts.

problem 3: Describe in brief how a contra entry might arise.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M96925

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