23.09.27 Introduction to Bookkeeping

The totals from the sales day book are posted to the following accounts

• Debit Receivables Control, Credit Sales, Credit VAT

• Credit Receivables Control, Debit Sales, Debit VAT

• Debit Receivables Control, Credit Sales, Debit VAT

• Credit Receivables Control, Credit Sales, Credit VAT

Which 'T' Account belongs in the Receivables Ledger?

• Sales

• Receivables Control

• VAT

• Smith and Sons

Which 'T' Account belongs in the General Ledger?

• Bloggs and Co

• Harris and Partners

• Sales

• Bingley and Co

When posting the individual amounts from the Sales Day Book, what entry do we make in the individual receivables ledger?

• Debit entry

• Credit entry

When posting the totals from the Sales Returns Day Book, what entry do we make in the Receivables Control Account?

• Debit

• Credit

When posting the totals from the Sales Returns Day book, do we debit or credit VAT?

• Debit

• Credit

What document is usually sent to a supplier along with payment?

• Cheque

• Credit Note

• Purchase Order

• Remittance Advice

What checks should you make when checking a cheque?

• Is the cheque signed?

• Is the name written after 'pay' correct?

• Is the cheque in date?

• Is the amount in words and numbers the same?