23.10.09 Introduction to Bookkeeping

If we are posting from the Purchases Day Book, which account do we credit?

• Payables Ledger Control Account

• Purchases

• VAT

• Discounts Received

If we are posting from the Purchases Day Book, which accounts do we debit?

• Purchases and Payables Ledger Control

• Purchases and VAT account

• VAT and Payables Ledger Control

When posting from the Purchases Returns Day Book, which account do we debit?

• Purchase Returns

• VAT

• Payables Ledger Control Account

When posting from the Discounts Received Day Book, which account do we debit?

• Discounts Received

• Payables Ledger Control Account

• VAT

• Discounts Allowed

When posting from the Discounts Received Day Book, which accounts do we credit?

• Payables Ledger Control and Discounts Received

• Payables Ledger Control and VAT

• Discounts Received and VAT

When we reconcile the Supplier Statement of Account, which 2 documents are checked?

• Invoice and company's Purchase order

• Invoice and Sales Order

• Credit Note and Purchase Order

• Statement of Account and individual payables ledger