Question
RECEIVABLES LEDGER CONTROL ACCOUNT Opening balance 138400 Cash received from credit customers 78420 216820 Credit sales 80660 Contras against credit balances in payables ledger 1000
RECEIVABLES LEDGER CONTROL ACCOUNT Opening balance 138400 Cash received from credit customers 78420 216820 Credit sales 80660 Contras against credit balances in payables ledger 1000 Discounts allowed to credit customers 1950 Irrecoverable debts written off 3000 Dishonoured cheques from credit customers 850 Closing balnce 129360 216820 What should the closing balance be when all the errors are corrected?
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Financial Accounting And Reporting
Authors: Mr Barry Elliott, Jamie Elliott
10th Edition
0273703641, 978-0273703648
