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Accounting 3.1 lasmine Traders is a home and nursery centre located in Johannesburg. Jasmine Traders is having trouble working out how much they owe Plant
Accounting 3.1
lasmine Traders is a home and nursery centre located in Johannesburg. Jasmine Traders is having trouble working out how much they owe Plant World, one of their suppliers as at the end of April. You have been provided with the following information: - The balance on Plant World's account in the Trade Payables subsidiary ledger of Jasmine Traders on 1st March was R3690. The difference between the statement balance and the Trade Payables subsidiary ledger balance was a result of an EFT payment made on 28 February that was not reflected by Plant World. - Invoice 1009 reflected on the April statement had not yet been received by Jasmine Traders. - Jasmine Traders sent a debit note to Plant World in March for R500, representing the difference between the price they had verbally agreed on some items purchased and the price that appeared on the invoice. They still have not negotiated a compromise. A credit note for goods returned in April for R910 appears on the April statement as R190. The credit note has been correctly recorded by Jasmine Traders in April. This is the only entry in the creditor's allowances journal for April. Invoice 1005 on the April statement is for Jas Traders, not Jasmine Traders. An invoice for R658 shown on the April statement was for flowers ordered by the owner Mr. Willow for his wedding anniversary. The bookkeeper had not recorded this transaction at all, as the owner had ordered the goods in his own name and not for the business. IGNORE VAT. Required: Q.3.1 Prepare the Plant World account in the Trade Payables ledger of Jasmine Traders, showing all the transactions for March and April Step by Step Solution
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