Acca financial Accounting (FA) Study Text ac ca (FA)

Payables’ ledger control account 

Balance b/f 

X 

Balance b/f 

X 

Bank (CB) 

X 

Credit purchases (PDB) 

X 

Purchases returns (PRDB) 

X 

Bank (CB) refunds of debit 

balances 

X 

Discounts received 

X 

Contra with RCLA 

X 

Balance c/f 

X 

Balance c/f 

X 

–––

–––

X

X

–––

–––

Balance b/f 

X 

Balance b/f 

X 

---

Control account reconciliations 

244

 

KAPLAN PUBLISHING

 

Abbreviation key: 

SDB Sales day book 

PDB Purchases day book 

SRDB Sales returns day book 

PRDB Purchases returns day book 

CB Cash book 

Note that any entries to the control accounts must also be reflected in the 

individual accounts within the accounts receivable and payable ledgers. 

Recording contra entries 

Contra entries 

The situation may arise where a customer is also a supplier. Instead of 

both owing each other money, it may be agreed that the balances are 

contra’d, i.e. cancelled. 

The double entry for this type of contra is: 

Dr Payables’ ledger control account 

$X 

Cr Receivables’ ledger control account  $X 

The individual receivable and payable memorandum accounts must also 

be updated to reflect this.