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1) Control Accounts. You have received the following information: Balances at the beginning of the year 2007: Purchase Ledgers Balances Sales Ledgers Balances 10,624 18,210
1) Control Accounts. You have received the following information: Balances at the beginning of the year 2007: Purchase Ledgers Balances Sales Ledgers Balances 10,624 18,210 The totals for the year: Purchases Day Book Sales Day Book Returns Outward Day Book Returns Inward Day Book Cheques paid to Suppliers Petty Cash paid to Suppliers Cheques received from Customers Discounts Allowed Discounts Received Bad Debts Written off Dishonoured cheques from customers Amount to be Set Off between Purchases and Sales Ledger Accounts 172,860 317,621 1,073 893 175,000 65 302,601 5,041 2,671 814 563 1,021 Required: From the above information prepare and balance the Sales Ledger and Purchase Ledger Control Accounts for the year 2007
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