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A Level Accounting

Control Accounts Questions and Answers

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Question 1 of 3Control accounts

During October 2015, James Limited received 335,426throughthebankfromamountsrecordedagainsttradereceivables.Thistotalincludedachequefor335,426 through the bank from amounts recorded against trade receivables. This total included a cheque for 48 that actually related to commission received, not a receipt from a credit customer. Calculate the amount that should actually be credited to the sales ledger control account as cash received from trade receivables.

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