In the audit process, the following data were obtained from the books of the SPURS COMPANY which uses a voucher system. All invoices are subject to terms 2/10, n/30 and are entered net with the discount entered in Purchase Discount column of the voucher register. The accountant in charge of the books went on leave to attend to his family based on New Jersey. A fresh accounting graduate has been assigned to record the transaction. At year-end, the substitute

accountant finds that the unpaid vouchers do not agree with the Vouchers Payable control account. You are called to adjust the matter.

A schedule of unpaid vouchers as of December 31, 2019, all of which are net of discount, is presented to you.

Date Voucher No. Supplier Amount Nov. 27 797 Duncan Supply Co. P 78,400 Dec. 02 821 Ginobili Distributors 19,600 11 829 Parker Sales 44,100 20 836 Mohamed Dealers 17 150 21 842 Browen Merchandising 22,050 22 856 Horry Mercantile 80,850 31 865 Barry Traders 78.400 P340.550 Vouchers Payable (control account) Cash disbursements Purchase journal P1,309,500 P1,645,000 Purchase returns journal 36,750*