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1. Muscat LLC payables ledger control account is an integral part of the double entry system. Individual ledger account balances are listed and totaled on
1. Muscat LLC payables ledger control account is an integral part of the double entry system. Individual ledger account balances are listed and totaled on a monthly basis, and reconciled to the control account balance. Information for the month of March is as follows: Individual ledger account balances at 31 March have been listed out and totaled OMR19,766. The payables ledger control account balance at 31 March is OMR 21,832. On further examination the following errors are discovered: a) The total of discount received for the month, amounting to OMR 1,715, has not been entered in the control account but has been entered in the individual ledger accounts. b) On listing-out, an individual credit balance of OMR 205 has been incorrectly treated as a debit. c) A petty cash payment to a supplier amounting to OMR 63 has been correctly treated in the control account, but no entry has been made in the supplier individual ledger account. d) The purchases day book total for March has been undercast (understated) by OMR 2,000. e) Contras (set-offs) with the receivable's ledger, amounting in total to OMR 2,004, have been correctly treated in the individual ledger accounts but no entry has been made in the control account. i. Prepare the part of the payables ledger control account reflecting the above information. ii. Prepare a statement reconciling the original total of the individual balances with the corrected balance on the control account
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