The following information relates to a firm for the month of December:

Total of individual balances at 31 Decembe r taken from the ledgers:
Sales ledger £44,112 Purchase ledger £48,581 Required:

(a) Prepare sales ledger control account and purchase ledger control account, identifying any differences.

(b) How would you go about finding any differences?

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Sales ledger balances 1 Dec. 33,041 Purchase ledger balances 1 Dec. 23,214 Purchase invoices for December 162,175 Sales invoices for December 232,183 Cash and cheques received from customers in December 215,164 Bad debts written off in month 750 To suppliers Cheque payments in December: To customers (refunds for goods 131,643 paid for and subsequently returned) 125 Discounts received 1,742 Discounts allowed 2,475 Credit notes issued to customers in month 2,354 Credit notes received from sup- pliers in month 2,858 Amounts settled by contra. 565