Question
Prepare a sales ledger control account and a purchases ledger control account for the half-year to December 2012 GHS Sales ledger balances, 1 July 2012-
Prepare a sales ledger control account and a purchases ledger control account for the half-year to December 2012
GHS
Sales ledger balances, 1 July 2012- Debit 20,040
- Credit 56
Purchases ledger balances, 1 July 2012 Debit 12
- Credit 14,860
Activities during the half-year to 31 December 2012:
Payments to trade payables 93,685
Cheques from credit customers 119,930
Purchases on credit 95,580
Sales on credit 124,600
Bad debts written off 204
Discount allowed 3,480
Discount received 2,850
Returns inwards 1,063
Returns outwards 240
Sales ledger credit balances at 31 December 2012 37
Purchases ledger debit balances at 31 December 2012 26
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