‘It’ is a control account maintained in the general ledger which records transactions of individual customer’s accounts in a summarized manner. Here ‘It’ stands for

Q. ‘It’ is a control account maintained in the general ledger which records transactions of individual customer’s accounts in a summarized manner. Here ‘It’ stands for

A.            General Reserve A/c

B.            Sundry Creditors A/c

C.            Sundry Debtors A/c

D.            Both b & c

Answer: Sundry Debtors A/c