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From the following balances prepare the necessary Adjustment Account in the Nominal Ledger. $ 40,000 (Dr.) Jan. 1 1998 Balance of Sundry Debtors 11 Balance

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From the following balances prepare the necessary Adjustment Account in the Nominal Ledger. $ 40,000 (Dr.) Jan. 1 1998 Balance of Sundry Debtors 11 Balance of Sundry Debtors 2,000 (Cr.) 37,000 (Cr.) 11 Balance of Sundry Creditors Balance of Sundry Creditors 1,000 (Dr.) Cash and cheque received 1,40,000 Cash paid to creditors 1,20,000 Credit Sales as per sales book 2,00,000 Credit Purchases 1,50,000 Discount allowed 6,000 Discount received 3,500 Bad Debts written off 3,000 Bills Receivable received 20,000 Bills Payable accepted 5,000 Bills Receivable discounted 2,000 Transfer from Debtors' Ledger to Creditors' Ledger 1,000 Transfer from Creditors' Ledger to Debtors' Ledger 1,200 Balance of Debtors 6,000 (Cr.) Balance of Creditors 2,500 January: 11 Transactions for Dec. 31 11

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