Reconciliation

Accapull Co. Ltd. has the following balances in its books as at 31st March; Total of sales ledger balances: 18,300. Total of purchase ledger balances: f1,270. worl everl sW Balance on the accounts receivable account in the general ledger: E8,160. of luiglerled Balance on the accounts payable account in the general ledger: E1,302.merit rhiw The balances in the general ledger, shown above, have been included in the trial balance, in which the total credits exceed the total debits by 158. After an investigation you discover; 1. f10 of goods returned by a customer have been entered on the wrong side of his personal account. 2. The total of the sales day book has been incorrectly totalled by E80 less than it should be. 3. The total of the purchases had been correctly shown as f653 in the purchase day book and the accounts payable account but incorrectly posted to the purchases account as f635. 4. An allowance of f10 made by a supplier had been correctly entered in their personal account in the purchase ledger but no other entries had been made in the books. 5. A credit balance of E22 on a supplier's personal account had been omitted from the purchase ledger balances. You are required to: A - Calculate the corrected balances for accounts payable and accounts receivable and reconcile these - as far as possible - to the purchase and sales ledger balances. Note that you will still find a difference! B - Suggest what the remaining difference might represent and how you would set about resolving it