• The trial balance of a sole trader failed to agree: Debit RM119,897 Credit RM110,421 The following errors were subsequently found: 1. A cash receipt of RM100 from a customer has been completely overlooked from the cash book. 2. A sales return of RM542 has been wrongly posted to the credit of purchase return account, but has been entered correctly in the receivable account. 3. Goods costing RM1,550 taken for personal use have been credited to the drawings account and debited to the purchases account. 4. A repair bill of RM560 was debited twice to the repairs account. 5. A sales invoice of RM8,540 for Hari has been wrongly recorded in the account of Hadi. 6. A cheque for RM65,132 paid for the purchase of equipment was debited to the equipment account as RM75,132.
• Required: Prepare journal entries to correct each of the above errors. Narratives are not required.

Answer rating: 100% (QA)

Sl No Particulars Debit Credit 1 Cash RM 100 Suspens... View the full answer