Control Account vs. Sales Ledger Posting Error Steps:

• Customer owed $500; paid$480 net after $20 discount allowed.
• Cash book correctly records cash $480 and discount$20; posts gross $500 credit to sales ledger control account.
• Balance per control account: $15,000 debit (correctly reduced by$500).
• Error: Individual customer account credited only $480 (net), leaving$20 balance.
• Total trade receivables per sales ledger: $15,000 +$20 = $15,020.

Why D is correct:

• Trade receivables in the statement of financial position are the total from individual sales ledger accounts, which include the $20 overstatement due to incomplete crediting.

Why the others are wrong:

• A: Incorrectly subtracts net payment $480 from control balance.
• B: Subtracts discount $20 from control, ignoring sales ledger overstatement.
• C: Uses control balance directly, but financial position reflects sales ledger total.

Final answer: D