Chapter $5$

Balancing$-$off accounts

Review questions

$5\mathrm{.}1$ Enter the following items in the appropriate debtors' accounts $($i$.$e$.$ your customers' accounts$)$ only; do not write up other accounts. Then balance$-$off each of these personal accounts at the end of the month. $($Keep your answer; it will be used as a basis for Review Question $5\mathrm{.}3.)$

$2012$

May $1$ Sales on credit to B$.$ Flyn $f810$; F$.$ Lane $f1,100$;$T.$ Fey $f413.$

$4$ Sales on credit to F$.$ Start f$480$; B$.$ Flyn f $134.$

$10$ Returns inwards from B$.$ Flyn f$124$; T$.$ Fey $f62.$

$18$ F$.$ Lane paid us by cheque $f1,100.$

$20$ T$.$ Fey paid us $f351$ by cheque.

$24$ B$.$ Flyn paid us $f440$ by cash.

$31$ Sales on credit to F$.$ Start $f240.$