is a summary account in the general ledger that provides a snapshot of the total balance of all related transactions, without showing the individual transaction details.
Sales/Receivable Ledger Control Account
shows the total amount owed by all customers at any given time
Payables Ledger Control Account
shows the total amount a business owes to its suppliers at any given time.
Dishonoured cheque
Is a cheque that the bank refuses to cash because there is not enough money in the account
Control account doesn't prove that individual balances are correct; it verifies the arithmetical accuracy if the ledgers as a whole
