Transactions are recorded or posted to the ledger in line...
Transactions are recorded or posted to the ledger in line with
Accounting Concept
Source document
Double Entry Principle
Data collection
Correct answer is C
The main principle of double-entry system is that for every debit there is a corresponding credit for an equal amount of money and for every credit there is a corresponding debit for an equal amount of money; i.e. for every transaction one account is debited for, the amount of transaction and the other account is also credited.
Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNTS \(\be...
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\(\begin{array}{c|c} & N \\ \hline Sales & 200,000 \\ \text{Opening Stock} & 20,000 \\ p...
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