The following balances were extracted from the ledgers of Brown Sisters Ltd on

October 31, 2015:

October 1, 2015:	$
Purchases Ledger balance b/f- Dr-p	25,000
Purchases Ledger balances b/f- Cr-p	900,000
Sales Ledger balances b/f- Dr-s	1,350,000
Sales Ledger balances b/f- Cr-s	41,600
October 31, 2015:
Return outwards-pu	60,000
Discount allowed-sa	56,000
Cash paid to suppliers-pur	670,000
Bad debt-sales	86,000
Credit sales for the month-sales	1,196,000
Cheques received from customers-sales	1,440,000
Cash sales-rrelevant	118,000
Refunds to credit customers-sales	70,000
Discounts received-purchase	81,000
Dishonoured customers cheques-sales	72,000
Cash purchases-rrelevant	120,000
Interest on overdue customers’ accounts-sales	64,000
Credit purchases for the month-purchase	736,000
Bad debts recovered-sales	100,000
Refunds to cash customers-irre	16,000
Interest on overdue suppliers accounts-purc	31,600
Return inwards-sales	50,000
Refunds from credit purchases-purch	92,000
Cash received from debtors-sales	170,000
Contra entry-both	124,000
Purchases ledger debit balance-purchase	45,600
Sales ledger credit balance-sales	60,000

You are required to prepare the sale and purchase ledger control accounts

Answer rating: 100% (QA)

Sales Ledger Control Account Dr Balance bf 1350000Dr Credit sales for the month 1... View the full answer