Assignment One: Question one: The following information was obtained from Juja traders as at 31/12/2010. Balances as at 1st January 2010 are as follows; Sales Ledger Sh.120,000 on Debit side Sh. 15,000 on Credit side Purchases Ledger Sh. 186,000 on Credit side Sh. 8,000 on Debit side The following transactions took place during the year 2010; Sh. Sales in cash 150,000 Bad debts written off Sales in credit 425,000 Return inwards Purchases in cash 38,000 Return outwards Purchases in credit 560,000 Refunds to credit customers Cheques from credit customers 178,000 Provision for doubtful debts Cheques to credit suppliers 258,000 Creditors cheques dishonoured Contra Settlements 9,000 Refunds from creditors Customer cheques dishonoured 21,000 Balance as at 31/12/2010 Interest charged on overdue debtors 5,600 Sales ledger Discount Allowed 12.000 Purchases ledger Discount Received 9,600 Sh. 14,600 12,300 22,000 3,200 1,400 16,400 4,400 18,000 (Cr. Bal) 14,000 (Dr. Bal) Required: Prepare sales ledger and purchases ledger control accounts