At 30 November 2012 the balance on the Trade receivables control account in Elizabeth’s General ledger was £39,982. The total of the list of balances on the customers’ personal accounts was £39,614. Elizabeth discovered the following errors:

(i) An invoice for £288, correctly entered in the Sales Day Book has not been posted to the customer’s account.

(ii) A payment of £1,300 was accepted in full settlement of a balance of £1,309. No entry was made to record the discount.

(iii) A credit note issued to a credit customer for £120 was incorrectly treated as an invoice.

(iv) An addition error on a personal account meant that the balance was understated by £27.

(v) A customer had lodged a payment of £325 directly to Elizabeth’s bank account. The balance in the personal account was adjusted, but no entry was made in the Control account.

(vi) A folio in the Sales Day Book was added as £466 instead of £644.

(vii) A credit balance of £47 on a customer’s account was listed as a debit balance.

Required:

(a) The Trade receivables control account, including the necessary correcting entries.

(b) Prepare a reconciliation of control account balance with sum of the list of balances.

(c) State the amount and description of the item to be included in the Statement of financial position.