Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

A trade payable of $720 brought across from the purchases ledger has been recorded on the wrong side of the sales ledger control account. Before this transfer is corrected, the sales ledger control account shows a closing balance of $92 460. An allowance for irrecoverable debts of $1000 is to be entered. Calculate the correct balance on the sales ledger control account.

  • A$90 020
  • B$91 020
  • C$91 740
  • D$92 180

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