The Debtors' Ledger, also known as the Sales Ledger or Sold Ledger, is a memorandum ledger account where individual debtors' accounts are recorded. It is an essential component in the internal control system used to monitor sales, payments, discounts, and returns.
The sold ledger, often referred to as the debtors' ledger, captures all transactions involving sales made on credit. It helps businesses keep track of amounts owed by customers and ensures proper management of accounts receivable.
