Question: Please explain the answer showing all the work. ------------------------------------------------------------------------------- Vic's receivables ledger balances add up to $50,000, which does not agree with his trade receivables

Please explain the answer showing all the work.

-------------------------------------------------------------------------------

Vic's receivables ledger balances add up to $50,000, which does not agree with his trade receivables control account.

What should the total of the balances on his sales ledger be after correcting the following errors?

(1)

A credit note for $750 was not recorded in the receivables ledger

(2)

Receipts from credit customers of $2,000 were entered in the control account but not in the receivables ledger

$47,250
$49,250
$52,750
$50,000

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