(a)[3]
State three benefits a business obtains from keeping a double entry book-keeping system.
(b)[6]
Prepare a reconciliation between the sales ledger control account and the sales ledger balances as at 31 January.
(c)[3]
State three reasons why a customer’s account might have a credit balance in the sales ledger.
(d)[3]
Meena is thinking about charging interest on the full account balances of customers who fail to pay on time. Advise Meena whether she should or should not adopt this policy. Justify your answer.