Enter the following in the appropriate creditors' accounts (i.e. your suppliers' accounts) only. Do not write up
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Enter the following in the appropriate creditors' accounts (i.e. your suppliers' accounts) only.
Do not write up the other accounts. Then balance-off each of these personal accounts at the end of the month.
2016 June
1 Purchases on time from J. Wilson £240; P. Todd £390; J. Fry £1,620.
3 Purchases on time from P. Todd £470; P. Rake £290.
10 We returned goods to J. Fry £140; J. Wilson £65.
15 Purchases on time from J. Wilson £210.
19 We paid P. Rake by cash £290.
28 We paid J. Wilson by cash £300.
30 We returned goods to P. Todd £39.
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Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9781292084664
13th Edition
Authors: Alan Sangster, Frank Wood
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