Enter the following in the personal accounts (i.e. the creditor and debtor accounts) only. Do not write
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Enter the following in the personal accounts (i.e. the creditor and debtor accounts) only. Do not write up the other accounts. Balance off each personal account at the end of the month. After completing this, state which of the balances represent debtors and which represent creditors.
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20X8 Sept 11 11 11 11 11 11 11 11 11 1 Sales on credit to J Bee £520; T Day £630; J Soul £240. Purchases on credit D Blue £390; F Rise £510; P Lee £280. 8 Sales on credit to T Day £640; L Hope £418. 2 10 Purchases on credit from F Rise £92; R James £870. 12 Returns inwards from J Soul £25; T Day £190. 17 We returned goods to F Rise £12; R James £84. 20 We paid D Blue by cheque £390. 24 J Bee paid us by cheque £400. 26 We paid R James by cheque £766. 28 J Bee paid us by cash £80. 30 L Hope pays us by cheque £418.
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Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster
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