Draw up Emmanuel balance sheet from the information as at 31 December 2008

PLEASE TURN OVER Question 4 R32 20 Marks The financial year of The Better Trading Company ended on 30 November 2007. You have been asked to prepare a Total Debtors Account and a Total Crditors Account in order to produce End of year figures for Debtors and Creditors for the draft final accounts You are able to obtain the following information for the financial year from the books of original entry Sales-cash credit Purchases + Cash -credit Total receipts from customers Total payments to suppliers Discounts allowed (alltd credit customers) Discounts received (all from credit suppliers) Refunds given to cash customers Balance in the sales ledger set off against balance in the purchases ledger Bad debts written off Increase in the provision for bad debts Credit notes issued to credit customers (Credit notes received from credit suppliers 344,890 268 187 14,440 496,600 600,570 503,970 5,520 (3,510 STS 5,070 170 1780 90 4,140 1,480 According to the audited financial statements for the previous year debtors and creditors as at 1 December 2006 were R26,555 and R43,450 respectively, Required: Draw up the relevant Total Accounts entering end-of-year totals for debtors and creditors. (20 Marks)