Accounting · Ledger Control Accounts
The primary purpose of keeping a purchases ledger control account is to:
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- 1Record individual daily sales and credit transactions of customers
- 2Directly control cash and electronic payments made to various suppliers
- 3Verify the arithmetic accuracy of the total trade payables balance in the subsidiary ledger✓
- 4Track and record long-term fixed asset additions and depreciation charges
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Verify the arithmetic accuracy of the total trade payables balance in the subsidiary ledger
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