Question 8 Prepare the Purchase and sales ledger control account from the following GH Inrecoverable Debt written off 2,000 Bills Receivable 4,000 Cash from customers 40,000 Cash paid to suppliers 80,000 Invoice given to Customers 52,000 Bills payable 40,000 Cash Sales 20,000 Discount Allowed by suppliers 10,500 Discount Allowed to Customers 1,000 Invoice to suppliers 89,000 Bills receivable dishonored 1,000 Debit note sent to suppliers 200 Interest on customers overdue debt 3,000 Provision for bad debt 250 Refund by creditors 2,500 Credit note sent out to customers 3,000 January 1, 2009 balances -Debtors 15,000(DR) -Debtors 3,000(CR) -Creditors 35,000(CR) At 31/12/2009 a debtor made an overpayment of GHe1000 and a creditor whose balance was GHc6,000 also owed the company GHe 1,500. Question 4 (a)Discuss, using practical example the effect of prepayment figures on the preparation of a financial statement. (b)Suggest Four reasons why there might be difference between the balance on the receivable ledger control account and the total list of the list of accounts receivable ledger balances. (c)Discuss, using practical example how revenue expenditure should not be capitalized