Example 2 At the end of the year, the balance on the Receivables Ledger Control Account $26,100. However a list of balances extracted from the Receivables Ledger totalled $25,500. On investigation, the following errors were discovered a) A balance of $1,200 owing from Alex had been omitted from the list of balances b) The total of the sales journal (sales day book) had been overcast by $1,000. c) No record had been made anywhere of a contra with payables of $100. d) A credit balance of $800 in the receivables ledger had been listed as though it were a debit of Mace Ltd was balance Determine the correct figure for total receivables at the end of the year and reconcile with the total of the list of balances