Please solve question 2 only.

Question 1 Explain the difference between management accounting, financial accounting, cost accounting, taxation and auditing. [10 marks) Question 2 The following balances were extracted from the books of Shilongo Traders on 1 January 2020 Dr Cr Purchases Ledger 1912 83 025 Sales Ledger 130 905 1940 In the month of January 2020, the following transactions were made: Debit balance on Sales Ledger transferred to purchases Ledger 4956 Debtor's cheque dishonoured 1 908 Sales on credit 133 650 Credit purchases 96 645 Returns outwards to credit suppliers 3795 Returns inwards from credit customers 1 590 Cash sales 19 005 Cash purchases 10 913 Discount allowed 1 305 Discount received 1 600 Allowance for credit losses 474 Payments to credit suppliers 81 540 Receipts from credit customers 127 385 Refund to customer for overpayment 600 At 1 February 2020, the following information was available: Purchases Ledger debit balances 480 Sales Ledger credit balances 787 Required: (a) Prepare the Purchases Ledger Control Account for the month of January 2020 [13 marks] (6) Sales Ledger Control Account for the month of January 2020. [15 marks] (c) Explain six advantages of using control accounts. (12 marks] Total: 50 Marks