B1 (a) Denmark & Co operates a receivables control account to assist its overall credit control system. The balances on the receivables ledger accounts at 31st December 2018 amounted to 17,390 whereas the balance on the receivables ledger control account is 16,320. Follow up review by Denmark's financial accountant reveals the following: i. ii. iii. iv. V. vi. vii. viii. ix. x. Sales for week ended 30th November, amounting to 1,150 had not been entered into the control account. Cash received of 760 had been entered into the personal account as 670. A customer's account balance of 400 had not been included in the list of balances from the receivables ledger. A contra entry of 210 with the payables ledger had not been entered in the control account. A personal account balance had been under added by 90. Cash received of 180 had been debited to the relevant personal account in the receivables ledger. An irrecoverable debt of 320 had not been entered in the control account. Cash received of 150 had been credited to the personal account as 15. Returns inwards amounting to 145 had not been included in the control account. A cheque for 500 received from a customer had been dishonoured by the bank but no adjustments had been made to the control account. Required: (i) Prepare a corrected receivables control account, bringing down the amended balance at 1st January 2019. [ 8 ] (ii) Prepare a corrected personal account balances statement in the receivables ledger that reconciles with the control account balance. [8] (b) Outline briefly the distinction between the accounting treatment of capital and revenue expenditure. [4]