QUESTION 3 (20 Marks)

Ignore VAT

You have been recently employed as the junior accountant of Cosmos Traders

(Pty) Ltd. The first task given to you was to reconcile the balance of one of the

suppliers (Fresh Unit) in the creditors ledger at 30 June 2019 with the balance as

per their statement received on 30 June 2019. The balance per statement received

from Fresh Unit on 30 June 2019 amounted to R15 451.50.

You have been provided with the following information that should be taken into

consideration.

1. Goods sent by Fresh Unit on 21 June 2019 have not arrived at Cosmos Traders

by 30 June. Invoice No. 102 amounting to R1 200.60 appeared on the statement

for these goods.

2. On 20 June 2019, Cosmos Traders made a payment of R5 765.30 to Fresh Unit.

This payment did not reflect on the statement received from Fresh Unit on 30

June 2019.

3. Debit note (D5) sent by Cosmos Traders on 22 June 2019 amounting to R112.65

was recorded in the creditors ledger of Cosmos Traders but does not appear on

the statement.

4. Cosmos Traders received an email from Fresh Unit, confirming that invoice

No.210 amounting to R2 228.55 as per the statement, should have been invoiced

7 HFAC130-1-Jan-Jun2021-SA1-BE.ET-V4-14052021

QUESTION 3 (20 Marks)

Ignore VAT

You have been recently employed as the junior accountant of Cosmos Traders

(Pty) Ltd. The first task given to you was to reconcile the balance of one of the

suppliers (Fresh Unit) in the creditors ledger at 30 June 2019 with the balance as

per their statement received on 30 June 2019. The balance per statement received

from Fresh Unit on 30 June 2019 amounted to R15 451.50.

You have been provided with the following information that should be taken into

consideration.

1. Goods sent by Fresh Unit on 21 June 2019 have not arrived at Cosmos Traders

by 30 June. Invoice No. 102 amounting to R1 200.60 appeared on the statement

for these goods.

2. On 20 June 2019, Cosmos Traders made a payment of R5 765.30 to Fresh Unit.

This payment did not reflect on the statement received from Fresh Unit on 30

June 2019.

3. Debit note (D5) sent by Cosmos Traders on 22 June 2019 amounting to R112.65

was recorded in the creditors ledger of Cosmos Traders but does not appear on

the statement.

4. Cosmos Traders received an email from Fresh Unit, confirming that invoice

No.210 amounting to R2 228.55 as per the statement, should have been invoiced

to Eazy Traders.

5. Credit note 112 amounting to R145.74 and invoice No. 126 amounting to

R562.90, both appear on the incorrect side of the statement.

REQUIRED:

Prepare a remittance advice that will accompany the payment to clear the balance

owed to Fresh Unit by Cosmos Traders at 30 June 2019