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please answer step by step. Question 1 The following balances and transactions were extracted from the financial records of a Gyaso-Gyaso Enterprise for the month
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Question 1 The following balances and transactions were extracted from the financial records of a Gyaso-Gyaso Enterprise for the month of June, 2018. Balance at 1 June, 2018: Purchases Ledger GHC 12.450 (Credit) 100 (Debit) 76,000 (Debit) 220 (Credit) Sales ledger Transaction during June, 2018 Credit purchases Cash Sales Credit sales Cash purchases Cheques received from credit customers Allowances from suppliers Cash received from credit customers Discount received Cheques paid to creditors Contra settlements Bill receivable Allowances to customers Bill payable Dishonoured cheques Provision for discount on debtors Discount allowed Bad debts written off Refund to customers for overpayment Interest charged on debtors' overdue account Sales returns Returns outwards 530,000 820.000 700.000 350.000 500.000 1,500 70.000 11,000 370,000 14.000 19,000 29.000 90,000 17,000 4,000 9,000 7,000 20,000 1,000 9,000 5,000 Theodora, Priscilla, Alice, Graham & Fred Sales ledger (30/06/2018) Purchases Ledger (30/06/2018) 300 (Credit) 100 (Debit) You are required to write up the: a) Sales Ledger Control Account b) Purchases Ledger Control Account for the month of June, 2018Step by Step Solution
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