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What is a dishonoured cheque

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Reference no: EM132595739

Question 1) Why are there two balances brought down on 1 January 2020 for each of the Purchases Ledger Control Account and the Sales Ledger Control Account?

Question 2) What is a dishonoured cheque? What is its effect on the control account?

Question 3) What is a bad debt? How would it influence the control account?

Reference no: EM132595739

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