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REQUIRED Prepare the correct Creditors Control account (balanced) for March 2023. (8 marks) INFORMATION The following transactions of ABC Traders have been recorded for March
REQUIRED Prepare the correct Creditors Control account (balanced) for March 2023. (8 marks) INFORMATION The following transactions of ABC Traders have been recorded for March 2023: Additional information to record: A creditor's account with a credit balance of R300 in the creditors ledger must be transferred to the account of the same creditor in the debtors ledger. A credit note received from a creditor for a retum of goods was not recorded, R400. A payment to a creditor (included in the R80 000 above) was recorded as R5 500 instead of R5 000 in the cash payments joumal and posted accordingly. ABC Traders was charged interest for one month at 18% per annum on an overdue account of R3000
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