The following was extracted from the accounting records of One Time Services who have a Debtors...

 

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The following was extracted from the accounting records of One Time Services who have a Debtors Control account in the general ledger and a debtors subsidiary ledger in which individual debtors' accounts are maintained. The balance of the Debtors' control account at 31 March 2021 of R168 750 did not equal the total of the list of debtors of R187 200 as at the same date. List of debtors as at 31 March 2021 R T Jones 15 750 P Chopra 66 150 N Zulu 91 350 M Pitso 9 450 H Son 4 500 Total of the list of debtors 187 200 General Ledger: One Time Services DR Debtors Control Account CR 1.3 Balance b/d 84 600 31.3 CRJ – Debtors colum 293 400 31.3 Sales 381 000 Sales returns 3 150 Interest Income 1 050 Credit losses 1 350 Balance c/d 168 750 466 650 466 650 1.4 Balance b/d 168 750 Additional information: 1. H Son's account of R4 500 must be written off as irrecoverable, 2. A credit note issued to M Pitso for R2 250 was erroneously entered into T Jones's account. 3. A receipt issued to P Chopra for R18 900 for payment towards her account was recorded correctly in the Cash Receipts Journal but was not posted to his account in the Debtors' ledger. 4. N Zulu must be charged R914 interest on his overdue account. 5. A sale toT Jones on credit for R2 700 needs to be recorded. 6. The sales returns journal was undercast by R450. Required: Prepare the following for One Time Services as at 31 March 2021: 5.1 A Debtors' Control account showing the corrected balance, 5.2 A list of debtors showing the corrected total. The following was extracted from the accounting records of One Time Services who have a Debtors Control account in the general ledger and a debtors subsidiary ledger in which individual debtors' accounts are maintained. The balance of the Debtors' control account at 31 March 2021 of R168 750 did not equal the total of the list of debtors of R187 200 as at the same date. List of debtors as at 31 March 2021 R T Jones 15 750 P Chopra 66 150 N Zulu 91 350 M Pitso 9 450 H Son 4 500 Total of the list of debtors 187 200 General Ledger: One Time Services DR Debtors Control Account CR 1.3 Balance b/d 84 600 31.3 CRJ – Debtors colum 293 400 31.3 Sales 381 000 Sales returns 3 150 Interest Income 1 050 Credit losses 1 350 Balance c/d 168 750 466 650 466 650 1.4 Balance b/d 168 750 Additional information: 1. H Son's account of R4 500 must be written off as irrecoverable, 2. A credit note issued to M Pitso for R2 250 was erroneously entered into T Jones's account. 3. A receipt issued to P Chopra for R18 900 for payment towards her account was recorded correctly in the Cash Receipts Journal but was not posted to his account in the Debtors' ledger. 4. N Zulu must be charged R914 interest on his overdue account. 5. A sale toT Jones on credit for R2 700 needs to be recorded. 6. The sales returns journal was undercast by R450. Required: Prepare the following for One Time Services as at 31 March 2021: 5.1 A Debtors' Control account showing the corrected balance, 5.2 A list of debtors showing the corrected total.

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Answer51 Debtors Control Account Corrected Balance Debtors Co... View the full answer