Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

A business’s sales ledger control account showed a balance of $17640. This figure did not match the combined balances of the separate customer accounts in the sales ledger. These mistakes were then found. 1. An invoice worth $460 in the sales journal was posted incorrectly to the sales ledger as $640. 2. Credit balances in the sales ledger, amounting to $470, were left out of the sales ledger control account. 3. Discounts allowed were totalled wrongly as $310 rather than $325. 4. Goods sold to Harry for $690 were posted to Barry’s account by mistake. What should the correct balance on the sales ledger control account be?

  • A$16975
  • B$17155
  • C$17185
  • D$18125

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