Answered step by step
Verified Expert Solution
Question
1 Approved Answer
FOUR [20] The total list of the individual debtor's balances of Ravi Traders does not agree with the balance on the debtor's control account. In
FOUR [20] The total list of the individual debtor's balances of Ravi Traders does not agree with the balance on the debtor's control account. In trying to reconcile the total of the list with the balance of the debtor's control account, the following errors were found: 1. The sales journal was undercast by R100. 2. An invoice for K Interiors of R153 was recognised as R135 in the sales journal and posted as such. 3. An invoice of R234 correctly posted in the sales journal was posted as R324 to the account of B Bedford. I 4. A Mans settled his account of R410 with a cheque of R400. Only the entry in the receipt cashbook was made and posted to the ledger. The amount of discount allowed was by mistake not accounted for during the sale. Additional Information: Before the above mentioned errors were found, the balance on the debtor's control account was R23 700 and the debtors list was R23 890. Required: Calculate the total of the list of debtor's balances and the debtor's control account
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started