Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

A company drew up a sales ledger control account. Its balance was not the same as the sum of the sales ledger balances, which totalled $42650. The following errors or omissions were found. 1 An irrecoverable debt of $500 in the general journal has not been entered in the sales ledger. 2 The sales journal has been added up wrongly and needs to be decreased by $750. 3 The sales ledger control account includes the discount received of $400. It should instead have been discount allowed, $600. 4 Sales to J Brown of $640 have not been entered in his account. What was the correct total of the sales ledger balances?

  • A$41700
  • B$41840
  • C$42510
  • D$42790

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