QUESTION $1$

$(51$ MARKS$)$

General ledger accounts and analysis

Use the information provided above to create the General Ledger accounts for

April $2024$ and ensure that the accounts are balanced by the end of the month.

$1\mathrm{.}1$ Trading Stock

$1\mathrm{.}2$ Debtors Control

$1\mathrm{.}3$ Creditors Control

$1\mathrm{.}4$ Sales

$1\mathrm{.}5$ State TWO advantages and TWO disadvantages of selling goods

on credit.

$1\mathrm{.}6$ The owner is concerned about the large number of outstanding

debts from debtors. Explain TWO processes the owner can

implement to ensure debtors pay their debt.

$\backslash$table$[[16,19,$Impala wholesales,C$2,13600],[,,,,54200]]$

G$.$ Creditors Allowance Journal for April $2024$: CAJ

$\backslash$table$[[$Doc$,$Day,Details,Fol,Trading Stock$],[36,20,$Impala wholesales,C$2,6500],[38,23,$Impala wholesales,C$2,8500],[,,,,15000]]$

D$.$ Debtors Journal for April $2024$: DJ

E$.$ Debtor Allowance Journal for April $2024$: DAJ

F$.$ Creditors Journal for April $2024$: C$]$

B$.$ Cash Receipts Journal for April $2024$

C$.$ Cash Payments Journal for April $2024$

BOOKKEEPING OF TECHVISION

TechVision is an electronics store selling a variety of tech products. It was founded on June $1,2021,$ by its owner, J$.$J$.$ Vision. The store operates by selling items both for cash and on credit to its customers. As the newly appointed Accountant for the business, your task is to analyse the provided information and respond to the following questions below. The business uses a $50\%$ markup.

A$.$ TechVision's Trial Balance on $31$ March $2024$

$\backslash$table$[[\backslash$table$[[$BALANCE SHEET ACCOUNT$],[$SECTION$]],$FOL,DEBIT,CREDIT$],[$Capital$,$B$1,,405790],[$Drawings$,$B$2,57200,],[$Land and buildings,B$3,165000,],[$Vehicles$,$B$4,99550,],[$Equipment$,$B$5,52800,],[$Fixed Deposit: Absa $8\%$ p$.$a$,$B$6,,],[$Trading stock,B$7,39600,],[$Debtors control,B$8,53790,],[$Bank$,$B$9,24200,],[$Loan: Absa bank $8\%$ p$.$a$,$B$10,,110000],[$Creditors control,B$11,,69760],[$NOMINAL ACCOUNT SECTION$],[$Sales$,$N$1,,236500],[$Debtors allowance,N$2,40700,],[$Cost of sales,N$3,94270,],[$Wages$,$N$4,24200,],[$Telephone$,$N$5,3685,],[$Water and electricity,N$6,15675,],[$Insurance$,$N$7,7810,],[$Interest on fixed deposit,N$8,,1375]]$