The Right Place Enterprise is a liquor store in the Caribbean. It sells on credit and...
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The Right Place Enterprise is a liquor store in the Caribbean. It sells on credit and purchases goods on credit. The following information was taken from its books at the end of 2021 June: Receivables balance at 2021 June 01 Payables balance at 2021 June 01 Cash and cheques - receivables Cash and cheques - payables Discounts allowed Discounts received Provision for bad debts Bad debts written off Cash sales Credit sales Cash purchases Credit purchases Returns inwards Returns outwards Balance in receivables ledger transferred to payables ledger Credit balance on receivables ledger A. Prepare the Sales Ledger Control Account. 83 490 52 800 270 000 170 000 6 350 7700 5 000 440 10 000 258 350 6 000 154 000 1 280 1 600 200 1 000 (9 marks) The Right Place Enterprise is a liquor store in the Caribbean. It sells on credit and purchases goods on credit. The following information was taken from its books at the end of 2021 June: Receivables balance at 2021 June 01 Payables balance at 2021 June 01 Cash and cheques - receivables Cash and cheques - payables Discounts allowed Discounts received Provision for bad debts Bad debts written off Cash sales Credit sales Cash purchases Credit purchases Returns inwards Returns outwards Balance in receivables ledger transferred to payables ledger Credit balance on receivables ledger A. Prepare the Sales Ledger Control Account. 83 490 52 800 270 000 170 000 6 350 7700 5 000 440 10 000 258 350 6 000 154 000 1 280 1 600 200 1 000 (9 marks)
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Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
Posted Date:
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