alleryStart learning →The amount of credit sales can be computed from which account?
ATotal debtors account
BTotal creditors account
CBills payable account
DBills receivable account
Answer & Solution
Correct answer: A. Total debtors account
1. When records are incomplete, missing figures are found by preparing the relevant control account.
2. Credit sales are the balancing figure of the total debtors account.
3. Credit purchases correspondingly come from the total creditors account.
4. The bills receivable account yields the bills received during the year, and the bills payable account yields the bills accepted.
_Source: TN HSC Class 12 Accountancy (Samacheer Kalvi, Govt of Tamil Nadu), Unit 1 "Accounts from Incomplete Records", §1.8.1_
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