The following receivables ledger control account prepared by a trainee accountant contains a number of errors:...
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The following receivables ledger control account prepared by a trainee accountant contains a number of errors: RECEIVABLES LEDGER CONTROL ACCOUNT $ 614,000 311,000 20X4 1 Jan Balance 31 Jan Cash from credit customers Contras against amounts due to suppliers in payables ledger 8,650 20X4 31 Dec Credit sales Discounts allowed Irrecoverable debts written off Interest charged on overdue accounts Balance 301,000 3,400 32,000 1,600 595,650 933,650 933,650 What should the closing balance on the control account be after the errors in it have been corrected? The following receivables ledger control account prepared by a trainee accountant contains a number of errors: RECEIVABLES LEDGER CONTROL ACCOUNT $ 614,000 311,000 20X4 1 Jan Balance 31 Jan Cash from credit customers Contras against amounts due to suppliers in payables ledger 8,650 20X4 31 Dec Credit sales Discounts allowed Irrecoverable debts written off Interest charged on overdue accounts Balance 301,000 3,400 32,000 1,600 595,650 933,650 933,650 What should the closing balance on the control account be after the errors in it have been corrected?
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Related Book For
Basic Marketing Research
ISBN: 978-1133188544
8th edition
Authors: Tom J. Brown, Tracy A. Suter, Gilbert A. Churchill
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