Question
PQR Limited keeps accounts receivable control accounts in the General Ledger. The transactions for the month ended 30 September 20XX were as follows: $ Credit
PQR Limited keeps accounts receivable control accounts in the General Ledger. The transactions for the month ended 30 September 20XX were as follows:
| $ | |
|---|---|
| Credit balances on 1 September | 154 |
| Debit balances on 1 September | 956 |
| Credit balances on 30 September | 178 |
| Credit sales | 4,563 |
| Cheques received from debtors | 3,140 |
| Cash received from debtors | 1,367 |
| Bad debts written off | 68 |
| Discounts allowed | 169 |
| Contra from purchases ledger | 34 |
| Refunds to debtors | 62 |
| Returns inwards | 231 |
Required:
Accounts receivables ledger control account for the month of September 20XX
Step by Step Solution
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Step: 1
To prepare the accounts receivable ledger control account for PQR Limited for the month of September 20XX we need to list down the transactions and th...
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Step: 2
Step: 3
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Financial Accounting Reporting Analysis And Decision Making
Authors: Shirley Carlon, Rosina Mladenovic Mcalpine, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong
5th Edition
0730313743, 978-0730313748
