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Q1. The following balances were extracted from the books of mark enterprises as at 31st December 1990 Purchases .....on credit...16500 ......cash..........7400 Sale ....On credit....25,500 ....cash...........10,200
Q1. The following balances were extracted from the books of mark enterprises as at 31st December 1990 Purchases .....on credit...16500 ......cash..........7400 Sale ....On credit....25,500 ....cash...........10,200 Opening balances Debtors........4000 Creditors......3,300 Payment to creditors....... 15,000 Receipt from debtors........23,600 Cash discount allowed.......... 540 Cash discount received....... 400 Trade discounts allowed......... 12000 Return inward...760 Return outward..215 Contra settlement..... 500 Bad debt written off....... 85 Provision for bad debt...... 120 Bill receivable...600 Cheque dishonoured.....45 Bills payable..1020 You are required to prepare (a) sales ledger control account (b) purchased ledger control account
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