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Question 5 (Marks: 10) You are provided with the following extracts (totals) of the subsidiary journals for Fit Traders for March 2020. Cashbook payments Bank
Question 5 (Marks: 10) You are provided with the following extracts (totals) of the subsidiary journals for Fit Traders for March 2020. Cashbook payments Bank Creditors control VAT Input Sundry accounts R126 500 R75 000 R16 500 R35 000 Creditors journal Creditors control VAT Input Trading inventory Sundry accounts R74 750 R9 750 R60 000 R5 000 Creditors allowances journal Creditors control VAT Output Sundry accounts Trading inventory R20 000 R25 300 R3 300 R2 000 The general journal reflects a transaction of R575 including VAT that relates to a settlement discount that was received from a creditor. Required: Q.5.1 Prepare the creditors control account in the general ledge of Fit traders for March (10) 2020. Assume an opening balance of R30 000. Properly balance the account at the end of the month. Q.5.1 General ledger of Fit Traders March 2020 (10) Creditors Control Date Details Fol. Amount Date Details Fol. Amount
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