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Old MathJax webview please answer question 3.1 7 / 8 75% C Question 3 (Marks: 10) You are provided with the following extracts and information
Old MathJax webview
please answer question 3.1
7 / 8 75% C Question 3 (Marks: 10) You are provided with the following extracts and information taken from the books of Leopard Traders for the month of June 2021. Leopard Traders sells clothing that they buy from various suppliers. Leopard Traders uses the perpetual inventory system. 1. You are provided with an incomplete Creditors Control for the month of June 2021. The balance at the beginning of the month is correct. CREDITORS CONTROL B5 DATE DETAILS FOL AMOUNT DATE DETAILS FOL AMOUNT 30 June Sundry returns CAJ 2 800 1 JUNE Balance b/d 55 130 2021 2021 Bank CBP 24 000 Sundry CU 13 000 purchases Settlement GJ 50 discount received The following errors/omissions were noted A BU The total of the creditors journal has been overcast by R600. No entry has been made for inventory bought on credit from Gemsbok Suppliers for R2 400 including VAT) less 10% trading discount. An original credit note received from Giraffe Dealers for R435 was entered incorrectly in C W 21 D. No entry has been made for interest charged at 12% p.a. on the overdue account of R9 000 due to Zebra Stores at 30 June 2021. The account is four months overdue. Lion Wholesalers is also a debtor and shows a credit balance of R400 in the Debtors ledger. Management has decided to transfer this amount to Lion Wholesalers account in the creditor's ledger. No entry has been made. (10) 0.3.1 Taking into account all the errors/omissions noted above, prepare the corrected Creditors Control account for the month of June 2021. Balance the account. [TOTAL MARKS: 100] (10) General ledger B5 CREDITORS CONTROL AMOUNT DATE co DETAILS FOL DETAILS FOL AMOUNT I Jane 2021 Balance Bld 55130
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