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Best Buy Limited, a departmental store has hired you as a Purchase Ledger Control Manager, they carried on following transactions during the month of March
Best Buy Limited, a departmental store has hired you as a Purchase Ledger Control Manager, they carried on following transactions during the month of March 2019 03/01/2019 Bought groceries stock from "The Wholeseller" for 10,000 on sale on credit basis, the payment term is 2/10N 30. 03/05/2019 Purchased crockery items for 3,000 on credit basis and for 1,000 on cash basis from "The Home Care". 03/10/2019 Paid "The Wholeseller" in full and received a discount. 15/03/2019 Goods worth 500 purchased on credit from "The Home Care" got damaged and retired at a reduced price of 50% of the purchase value. 25/03/2019 Purchased Fresh Products such as Meat, Fruits and Vegetables from the open market on whole rate for cash at a price of 2,000 30/03/2019 Purchased Human Care Products at price of 3,500 on credit basis from "Zaka Limited" Required: a) Journalize the above transactions, and record them in the Subsidiary Ledgers for each of the Creditors and Creditors Control Account in the books of Best Buy Limited
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