A sales ledger is a detailed listing of all sales made and presented in date sequence. A sales ledger can have a wealth of information, including the sale date, invoice number, customer name, items sold, sale amounts, freight charged, sales taxes, and value-added tax. Additionally, it may contain credits issued to customers that reduce sales, such as for returned products. EXPLAIN the mechanism used by the sales ledger in handling the company's credit management

A sales ledger is a detailed listing of all sales made and presented in date sequence. A sales ledger can have a wealth of information, including the sale date, invoice number, customer name, items sold, sale amounts, freight charged, sales taxes, and value-added tax. Additionally, it may contain credits issued to customers that reduce sales, such as for returned products. EXPLAIN the mechanism used by the sales ledger in handling the company's credit management

Foundations of Business - Standalone book (MindTap Course List)

4th Edition

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter15: Using Management And Accounting Information

Section: Chapter Questions

Problem 24CC

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