The SLCA is the book where all the customer accounts are held. This means it is full of trade receivables making the account an ASSET account.
The balance b/f is the total of all the customer accounts.
Entries made in this account that INCREASE the amount customers owe is on the DEBIT side.
Entries made that DECREASE the amount customers owe go on the CREDIT side.
With Contra entries, They go on the credit side as they now don't owe us.
The PLCA is the book where all the supplier accounts are held. This means it is full of trade payables making the account a LIABILITY account.
The balance b/f is the total of all the supplier accounts.
Entries made in this account that INCREASE the amount we owe goes ont the CREDIT side.
Entries made that DECREASE the amount we owe go on the DEBIT SIDE.
With Contra entries, they go on the debit side as we now don't owe them.
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