Use the following information to prepare the correct account and list: 1.1 Debtors control account for January
Question:
Use the following information to prepare the correct account and list:
1.1 Debtors control account for January 2021
1.2 Debtors list at 31 January 2021.
General Ledger DEBTORS CONTROL ACCOUNT
Jan 01
Balance Sales Returns Balance c/d
54 300 6 200 37 810
Jan 31
Bank and discount Sales
CRJ5 SJ
36 200 62 110
b/d SRJ
98 310
98 310 37 810
Debtors List as at 31 January 2021
B. Afleck M. Damon J. Peter A. Paul
D. Carter
Feb 01 Balance b/d
Debit Credit
12 525
19 085
18 100
9 200
17 900
76810 0
The following errors and omissions were discovered after the above was drawn up:
1) The opening balance is R800 less than it should be.
2) The debtors’ column in the cash receipts journal was overcast by R2 000.
3) Goods returned by B. Afleck valued at R300 were not processed.
4) Credit sales of R 4 800 made to J. Peter was incorrectly posted to the account of D. Carter.
5) A cheque for R2 400 received from A. Paul in payment of his account was incorrectly entered in the cash receipts journal as R4 200.
6) No entry has been made for a cheque for R2 340 that was returned by the bank marked “R/D – insufficient funds”. The cheque was previously received from debtor C. Walken in settlement of a debt of R 2 600. The account must also be written off as C. Walken cannot be traced
