Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

solve ASAP fast Question 4 The closing balance on Darkowaah's receivables control account is GH$25,600. The closing balances on the individual customers' accounts totalled GH$24,600.

solve ASAP fast

image text in transcribed
Question 4 The closing balance on Darkowaah's receivables control account is GH$25,600. The closing balances on the individual customers' accounts totalled GH$24,600. All of Darkowaah's sales are made on credit. Investigation into the differences in the two balances revealed the following: 1. Mr. D's account with a debit balance of GH$700 has been omitted from the list of balances; 2. Sales returns of GH$400 have not been entered in the control account; 3. A credit balance of GH$50 has been entered on the list of balances as debit; and 4. A sales invoice of GH$125 was entered into the sales day book as GH$215. Required: What should the correct closing receivable balance be

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics An Intuitive Approach with Calculus

Authors: Thomas Nechyba

1st edition

538453257, 978-0538453257

Students also viewed these Mathematics questions