Smithers Ltd, a manufacturer, maintains subsidiary ledgers for creditors and debtors. At 30 June 2016, the total amount owing to the business by trade debtors amounted to $4850 and the total amount owed by the business to its suppliers amounted to $3976.

The following is a summary of the transactions for the month of July 2016.

Prepare the debtors and creditors control accounts, as they would appear in the general ledger, and bring down the balances as at 31 July 2016. Disregard any transactions that do not relate to either of these accounts.

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$ Credit sales 8626 Cash sales 2374 Credit purchases 6945 Cash received from debtors 9253 Cash paid to creditors 6575 Cash purchases 1600 Promissory notes from customers 420 Discount received from creditors Discount allowed to debtors Creditors charged interest on overdue accounts Freight paid and charged to debtors 56 78 25 22