Theodora, Priscilla, Alice, Graham & Fred Question 5 The following balances appeared in the ledgers of Major Ltd for the month of October 2018. October 1, 2018 Debit balance in sales ledger Credit balance in sales ledger Debit balance in purchases ledger Credit balances in purchases ledger GH 12,890 1.640 2.180 47,500 The following transaction took place during the month of October Credit sale Cash sales Credit purchases Cash purchases Return inwards Return outwards Discount allowed Discount received Cash received from credit customers Cheques paid to suppliers Cheques received from debtors Cash paid to creditors Provision for doubtful debt Bills payable Bills receivable Refund to credit customers for overpayment Bad debts written off Cheques from customers dishonoured Cash refunded to customers for damaged goods Interest charged on credit customers for overdue debts Credit balance in sales ledger Debit balances in purchase ledger Debit balance in purchase ledger set-off against credit sales balance in sales ledger 87,000 12,000 96,200 22,000 6,460 5,520 9,200 8,500 45,000 57,100 35,690 37,900 20,000 18,900 17,700 10,000 6,000 18.000 9,000 4.100 3,500 2.900 15,000 You are required to prepare: (a) sales ledger control account (b) purchases ledger control account