PRC-1 · Chapter 2 · Question 85 of 100
The total of the Sales Day Book for the month of June is Rs. 1,500,000. What is the double-entry required to transfer this total to the general ledger?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Debit Receivables Control account, Credit Sales account
Explanation
The total of the credit sales increases the amount owed by customers (Debit Receivables) and increases revenue (Credit Sales). Since credit sales don't involve immediate money, cash/bank is not impacted here.
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