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Verification ledger control accounts
- 2. • Master total account
• Verify the accuracy of entries made in the sales ledger
and the purchases ledger.
• Not part of the double entry system.
- 3. • Sales ledger control account
• Balance b/d
• Sales journal
• Returned cheques
• Balance b/d
• Bank
• Discounts allowed
• Sales returns journal
- 5. • Balance b/d
• Purchases journal
• Cancelled cheques
• Bank
• Discounts received
• Purchases returns journal
• Contras
• Balance c/d