What goes in the purchases ledger control account
One account holds the total owed to every credit supplier. Learn what goes on each side and how to find the balance.
Task 1One total for every supplier2 questions
Rowan Joinery buys timber, fixings and tool hire on credit. Each supplier has an account in the purchases ledger, which shows what is owed to that one supplier.
The purchases ledger control account is a single account in the general ledger. It holds the total owed to all the credit suppliers together.
Money owed to suppliers is a liability, called trade payables. So the control account normally has a credit balance.
Task 2What goes on each side4 questions
Task 3Finding the balance3 questions