In Which Ledger Would You Find a List of Debtors

question 22

Multiple Choice

In which ledger would you find a list of debtors and the amount owed by each?

• A)Purchases ledger
• B)General ledger
• C)Sales ledger
• D)Cash ledger

---

Definitions:

Single Entry Accounting

A method of bookkeeping that records only one side of each financial transaction, typically sufficient for smaller, simpler businesses.

Gross Profit

The difference between sales revenue and the cost of goods sold before accounting for other expenses.

Markup

The amount added to the cost of goods to cover overhead and profit, usually expressed as a percentage of the cost.

Discontinued Inventory

Discontinued inventory includes products that are no longer being produced or sold by a company, often due to obsolescence or strategy shifts.