An example of a prepared sales ledger account?

ABC Company Sales Ledger Account

Date | Invoice No. | Customer Name | Description | Amount
--------------------------------------------------------------
01/01/2022 | INV-001 | XYZ Corp | Product A | $500
02/01/2022 | INV-002 | ABC Corp | Service B | $700
03/01/2022 | INV-003 | DEF Corp | Product C | $300
04/01/2022 | INV-004 | GHI Corp | Service D | $600
05/01/2022 | INV-005 | JKL Corp | Product E | $400

Total Sales: $2,500

Sales Ledger Account: ABC Company Ltd.

Account No.: 1100

Date | Transaction | Invoice No. | Customer | Debit | Credit | Balance
------- | ---------- | --------- | -------- | -------- | --------- | --------
2023-01-01 | Opening Balance | - | - | - | 50,000 | 50,000
2023-01-05 | Invoice | INV001 | XYZ Ltd. | 15,000 | - | 65,000
2023-01-10 | Invoice | INV002 | DEF Ltd. | 20,000 | - | 85,000
2023-01-15 | Payment | - | XYZ Ltd. | - | 15,000 | 70,000
2023-01-20 | Invoice | INV003 | GHI Ltd. | 25,000 | - | 95,000
2023-01-25 | Payment | - | DEF Ltd. | - | 20,000 | 75,000
2023-01-30 | Invoice | INV004 | JKL Ltd. | 30,000 | - | 105,000
2023-01-31 | Payment | - | GHI Ltd. | - | 25,000 | 80,000

Notes:

- The sales ledger account records all transactions related to sales made to customers, including invoices, payments, and credit notes.
- The opening balance is the balance carried forward from the previous accounting period.
- Debits represent increases in receivables (invoices issued), while credits represent decreases (payments received).
- The balance represents the total amount owed by customers at any given time.