Please assist with the following: Required: use the information provided below to prepare the following: 2.1 The correct Debtors Control Account properly balanced for May 2021. 2.2 Reconciliation of the debtors list with the debtors control account for themonth ended 31 May 2021. Sport Enterprises have individual accounts for their debtors in a debtors subsidiary ledger and have a debtors control account in the general ledger. The balance of the debtors control account at 1 May 2021 is R169 200. The following information was provided for the month ending 31 May 2021: 1. Journals provided the following totals for relevant transactions: For the month ended 31 May 2021: R Sales journal: Debtors column- 762 000 Sales returns journal- 6 300 Cash receipts journal: Debtors column- 586 800 General Journal: Interest charged on overdue debtors’ accounts- 2 100 General Journal: Debtors balances written off as irrecoverable- 2 700 2. The debtors ledger clerk submitted the following : List of debtors balances as at 31 May 2021 – debit balances R C Gale- 31 500 H Bolt- 132 300 G Hunt- 182 700 I Khune- 18 900 R Nadal- 9 000 3. Additional information to be taken into account (not included in the above): 3.1 No entry has been made for a credit sale of goods to C Gale for R 5 400. 3.2 R Nadal’s account must be written off as irrecoverable. 3.3 G Hunt must be charged R1 827 interest on his overdue account. 3.4 A credit note issued to I Khune for goods returned was erroneously entered in the account of C Gale in the debtors’ ledger. 3.5 The sales returns journal was undercast by R900. 3.6 A receipt issued to H Bolt for a payment on account of R37 800 was recorded in the cash receipts journal but was not posted to his account in the debtors’ ledger.
Please assist with the following:
Required: use the information provided below to prepare the following:
2.1 The correct Debtors Control Account properly balanced for May 2021.
2.2 Reconciliation of the debtors list with the debtors control account for themonth ended 31 May 2021.
Sport Enterprises have individual accounts for their debtors in a debtors subsidiary
ledger and have a debtors control account in the general ledger. The balance of the
debtors control account at 1 May 2021 is R169 200. The following information was
provided for the month ending 31 May 2021:
1. Journals provided the following totals for relevant transactions:
For the month ended 31 May 2021: R
Sales journal: Debtors column- 762 000
Sales returns journal- 6 300
Cash receipts journal: Debtors column- 586 800
General Journal: Interest charged on overdue debtors’ accounts- 2 100
General Journal: Debtors balances written off as irrecoverable- 2 700
2. The debtors ledger clerk submitted the following :
List of debtors balances as at 31 May 2021 – debit balances R
C Gale- 31 500
H Bolt- 132 300
G Hunt- 182 700
I Khune- 18 900
R Nadal- 9 000
3. Additional information to be taken into account (not included in the above):
3.1 No entry has been made for a credit sale of goods to C Gale for R 5 400.
3.2 R Nadal’s account must be written off as irrecoverable.
3.3 G Hunt must be charged R1 827 interest on his overdue account.
3.4 A credit note issued to I Khune for goods returned was erroneously entered in
the account of C Gale in the debtors’ ledger.
3.5 The sales returns journal was undercast by R900.
3.6 A receipt issued to H Bolt for a payment on account of R37 800 was recorded in
the cash receipts journal but was not posted to his account in the debtors’ ledger.
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