Question 2 The following figures are available for 2010 March for Brooks Enterprise: Mar 01 Purchases ledger balances Sales ledger balances Purchases ledger balances Sales ledger balances March 31 Sales: Cash Credit Purchases: Cash Credit Receipt from debtors Discounts received Payment to creditors A. B. C. ABC Discounts allowed Interest debited to the accounts of overdue debtors Bad debts Returns inwards Refund to credit customers Returns outwards Debit balances in purchases ledger set off against balances in purchases ledger Dishonoured cheques Sales ledger balances Purchases ledger balances 101 230 CR 290 CR 370 DR 151 245 DR 40 500 110 200 35 420 89 765 71560 1230 48 970 990 450 560 1090 130 970 90 546 98 CR 76 DR Prepare a sales ledger control account for 2010 March. Prepare a purchases ledger control account for 2010 March. State FIVE (5) advantages of control accounts. (10 marks) || (7 1/2 marks) (2 1/2 marks) (Total 20 marks)