The following information was extracted from the records of Grizzly Traders. R Debtors control balance on...
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The following information was extracted from the records of Grizzly Traders. R Debtors control balance on 31 January 2022 Total of Debtors list on 28 February 2022 Information from the subsidiary books on 30 September 2022: 30 200 49 410 Cash sale of goods to customers Credit sale of goods to customers Cash and cheques received from debtors as well as discounts allowed Goods returned by debtors Additional information No entries have yet been made for the following: a) The Sales journal was overcast by R200. b) Interest must be charged on the overdue account of B. Bear, R1 000, for 2 months at a rate of 18% p.a. c) Sales of R1 240 to debtor C. Cougar have been correctly recorded in the Sales journal. However, it was posted to his account in the Debtors ledger as R1 420. d) A credit note for R80 was correctly recorded in the Sales Returns Journal but was erroneously posted to the wrong side of debtor J. Giraffe account. e) Debtor, R. Rhino, who owed R800 was declared insolvent. His estate paid 40 cents in the Rand. No entry has been made for the amount received. In addition, the balance of his account must be written off. f) J. Jockey account that has a debit balance of R40 in the Debtors ledger must be transferred to his account in the Creditors ledger. Required: Prepare the Debtors control account after taking the appropriate information and additional information into account. Balance the account on 28 February 2022. 43 100 39 900 18 800 880 The following information was extracted from the records of Grizzly Traders. R Debtors control balance on 31 January 2022 Total of Debtors list on 28 February 2022 Information from the subsidiary books on 30 September 2022: 30 200 49 410 Cash sale of goods to customers Credit sale of goods to customers Cash and cheques received from debtors as well as discounts allowed Goods returned by debtors Additional information No entries have yet been made for the following: a) The Sales journal was overcast by R200. b) Interest must be charged on the overdue account of B. Bear, R1 000, for 2 months at a rate of 18% p.a. c) Sales of R1 240 to debtor C. Cougar have been correctly recorded in the Sales journal. However, it was posted to his account in the Debtors ledger as R1 420. d) A credit note for R80 was correctly recorded in the Sales Returns Journal but was erroneously posted to the wrong side of debtor J. Giraffe account. e) Debtor, R. Rhino, who owed R800 was declared insolvent. His estate paid 40 cents in the Rand. No entry has been made for the amount received. In addition, the balance of his account must be written off. f) J. Jockey account that has a debit balance of R40 in the Debtors ledger must be transferred to his account in the Creditors ledger. Required: Prepare the Debtors control account after taking the appropriate information and additional information into account. Balance the account on 28 February 2022. 43 100 39 900 18 800 880
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Debtors control Ac as on 30 th Sept Particulars To bal bd To credit sal... View the full answer
Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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