Furey Brothers Limited lists the following amounts to be entered in the Trade Receivables and Trade Pavables control accounts for the month ended 30th June 2017 Debit Credit Balance 1st June 2017 were: Trade Receivables Trade Payables 26,000 1,000 28,000 1,500 Transaction for the month ended 30th June were as follows; 67,000 33,000 Credit Sales Credit purchases Payments to Trade Payables Cash received from Trade Receivables DiSCOunts Received DiSCOunts Allowed Bad debt to be written off Returns Inwards Returns outwards 35,000 64,000 900 750 1,375 2,750 3,675 unt due in the trade receivabs Limited) is Credit balances on the trade receivables ledger at 30th June 2017 amounted to 1,975.There were no debit balances on the trade payables ledger at that date An amount of 1,625 due to a trade payable (Murph Limited) is to be offset against the amount due in the trade receivables ledger by Murph Limited You are required to prepare (9 marks) a) The trade receivables control account for the month of June 2017 b) The trade payables control account for the month of June 2017 c) Discuss any two of the following (9 marks) i.Reasons for a debit balance on a trade pavables account Il. Reasons for a credit balance on a trade receivables account III. Advantages of control accounts (7 marks)