USING THE INFORMATION ABOVE CAN YOU PLEASE PREPAPRE THE TRADE CREDITORS CONTROL ACCOUNT

Adam Mullings is a retailer who had not kept a full set of accounting records. The following is a sunamary of his bank transactions in her cash book for the year wideil December 31.2020. You are given the following additional information: 1 Favourable bank balance per eash book on January 1,2020 amounting to 5106,920 2 During the financial year discounts allowed by trade payables amounted to 5440 and those allowed to trade receivables $800. 3 During the financial yesr goods returned by trade receivables amountod: to $1,600 and goods retarned to trade payables amounted to 56,900 . 4 Duning the financial year a trade debt of 51,200 owed by Lottie Graham was off-set against the $2,000 owing to the same Lottie Graham a trade creditor. 5 Janet Hutton, a cash sales customet returned goods daring the financial year amounting to $700. Janet Hutton was repaid her 5700 from the daily cash sales. 6 Adam Mullings grants a credit period of 30 days to trade receivables. The closing trade receivables balance includes a debt of $800 from Fanon Browning. The goods were sold to Fanon in November 2019. Fanon went to the United States of America for a two (2) wecks' vacation in February 2020. On December 31, 2020 Fanon was stall in the USA. 7. The amount of cash received from cash sales were all paid into the bank with the exception of: $2.800 Phumbing repairs \$4,000 Donation to cotnmunity Chtistmas party 8 Adam Mullings keeps a cash float of $10,000 for change in his retail outlet. 9 Adam Mullings agreed to pay his daughter Virginia, a commission of 5% of the net profit after charging such commission, for working in the retail outlet on Sundays. (Round to the nearest dollar) 10 The computer equipment was purchased on April 9, 2020. Depreciation should be calculated on the computer equipment on the straight line basis at a rate of 20% per annum on cost. It is the policy of the business to charge a full month's depreciation in the month of acquisition or disposal. 11 The accounting fee for prparing the 2020 financial statements is estimated at $35,200. 12 During the year, Adam Mullings puts a further $135,000 into the bank account of the business to shore up working capital. 13 On April 1, 2020 Adam Mullings received a loan of $300,000 from his mother Mara Mullings. Interest should be changed on the reducing balance at a rate of 10% per annum. The first interest payment is to be made on March 31,2021 . The principal is being paid in equal instalments of $100,000 on September 30, 2020, September 30, 2021 and September 30,2022