SECTION B Financial literacy: Debtors Ledger and General Ledger QUESTION 2 (25] (5) Choose from the word bank below and FILL in the missing words. Credit sales invoice Credit purchases invoice Sales Debit Credit Debtors ledger 2.1 The statement of account sent to the debtors each month showing clearly how much the debtor owes to the business. 141 2.2 When debtors buy aoods on credit, in the Debtors Ledger, it is recorded in the column and when they (2). pay their accounts, it is recorder 2.3 Which source document would be used when goods are sold on credit? (1) 2.4 When a business sells goods to A. Bothe on credit debtor control is debited and (1) is credited

SECTION B Financial literacy: Debtors Ledger and General Ledger QUESTION 2 (25] (5) Choose from the word bank below and FILL in the missing words. Credit sales invoice Credit purchases invoice Sales Debit Credit Debtors ledger 2.1 The statement of account sent to the debtors each month showing clearly how much the debtor owes to the business. 141 2.2 When debtors buy aoods on credit, in the Debtors Ledger, it is recorded in the column and when they (2). pay their accounts, it is recorder 2.3 Which source document would be used when goods are sold on credit? (1) 2.4 When a business sells goods to A. Bothe on credit debtor control is debited and (1) is credited

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

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