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2.2 The information given below was extracted from the records of Rainbow Traders for March 2019: REQUIRED Prepare the corrected Creditors List as at 31

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2.2 The information given below was extracted from the records of Rainbow Traders for March 2019: REQUIRED Prepare the corrected Creditors List as at 31 March 2019. ( 6 marks) Debit INFORMATION Creditors List as at 31 March 2019 Creditor Pine Suppliers Toy Wholesalers Hi-way Traders Star Suppliers Lilac Stores Credit 28 000 14 000 16 000 6 000 1 000 1 000 64 000 Additional information not yet recorded: 1. The balance in the account of Lilac Stores must be transferred to their account in the Debtors ledger 2. An invoice for goods purchased from Pine Suppliers was entered in the Purchases journal as R10 000 instead of R11 000 3. A discount received of R50 from Hi-way Traders in settlement of an account was correctly recorded in the Cash Payments Journal but posted to their account as R500 in the Creditors ledger 4. A credit note received from Toy Wholesalers for trading goods returned was not recorded in the purchases returns journal , R2 000. 5. A cheque to Star Suppliers for R 2 750 in payment of account was recorded in the Cash Payments Journal but was posted to their account in the Creditors ledger as a credit purchase. cs Scanned with CamScanner

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