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From the following balances prepare the necessary Adjustment Accounts in the Nominal Ledger: Jan.1 1998 69 Balance of Sundry Debtors Balance of Sundry Debtors 40,000(Dr.)
From the following balances prepare the necessary Adjustment Accounts in the Nominal Ledger: Jan.1 1998 69 Balance of Sundry Debtors Balance of Sundry Debtors 40,000(Dr.) 2,000(Cr.) 69 Balance of Sundry Creditors 37,000(Cr.) 65 Balance of Sundry Creditors 1,000(Dr.) Transactions for January: 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 Debtor's Ledger to Creditors Ledger 1,000 Transfer from Creditor's ledger to Debtors Ledger 1,200 Dec.31 Balance of Debtors 6,000(Cr.) 6 Balance of Creditors 2,500(Dr.)
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