The following sales returns day book for Harold is given: Sales returns day book Required Prepare the
Question:
The following sales returns day book for Harold is given:
Sales returns day book
Required
Prepare the ledger accounts from the sales returns day book. Indicate the ledgers used.
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Randall Hamilton Frame 4 38 15 103 156
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To prepare the ledger accounts from the sales returns day book for Harold well create ledger accounts for each customer mentioned in the day book Randall and Hamilton Frame We will also indicate the ledgers used for each account Heres how you can prepare the ledger accounts 1 Ledger Account for Randall Date Particulars Ledger Amount Balance Opening Balance Randall 0 0 Sales Returns CR Sales 38 38 Randall 38 38 Sales Returns CR Sales 15 15 Randall 15 53 Sales Returns CR Sales 103 103 Randall 103 50 Closing Balance Randall 50 2 Ledger Account for Hamilton Frame Date Particulars Ledger Amount Balance Opening Balance Hamilton Frame 0 0 Sales Returns CR Sales 156 156 Hamilton Frame 156 156 Closing Balance Hamilton Frame 156 In the ledger accounts CR indicates credit entries representing sales returns The Sales ledger is used to track the total sales and each customer Randall and Hamilton Frame has their own ledger account ...View the full answer
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