Accounting 0452 · IGCSE · Control accounts

Control accounts — practice question

Natalie is a customer of Gustav as well as one of Gustav’s suppliers. On 28 June, the balance on Gustav’s account in Natalie’s purchases ledger was a credit $295, while the balance on his account in Natalie’s sales ledger was a debit $140. Gustav wants to set one amount off against the other. Which entries should Gustav post in his control accounts?

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