Magic World for May 2019. Question 3 (Marks: 10) After all the ledgers had been drawn up, the following differences and errors were identified. Indicate with a cross (X) where you would correct each of the differences and errors listed below, and explain your reasoning as so how, why and where you will make the correction: Hint: some might need to be corrected in more than one place. Difference or error Debtors control Debtors list E.g. The total sales return column in X the Debtors Allowance Journal was posted to the debit side of the Debtors Sales returns reduce the amount owing by a debtor. Control Account The error has occurred in the Debtors control account only, thus there will be no impact on the individual debtor's account. The debtors control account should be credited twice. A credit invoice (issued by the business) has not been recorded at all. The Debtors control column in the debtors journal was "undercast". Notification has been received that the outstanding balance on one of the debtors should be written off as the debtor is insolvent. END OF PAPER Question 3 (Marks: 10) Difference or error Debtors control Debtors list E.g. The total sales return column in the Debtors Allowance Journal was Sales returns reduce the amount owing by a debtor. The error has occurred in the Debtors control account only, thus there will be no impact on the individual debtors account. The debtors control account would be credited twice. posted to the debit side of the Debtors Control Account. A credit invoice (issued by the business) has not been recorded at all. The debtors control column in the debtors journal was "undercast". 20 2020 Notification has been received that the outstanding balance on one of the debtors should be written off as the debtor is insolvent. END OF ANSWER BOOKLET