1. The following data was obtained from the books of The January 1 Bal bid Totals for the year Cash sales Cash purchases Sales returns Purchases returns Discount allowed Discounts received Bad debts Debtors Dr 45,000 Creditors Dr 3,900 Refund to credit customers Refund from credit suppliers Payments to creditors Receipts from debtors Dishonoured cheques Dec 31 Bal od 70,000 40,000 5,000 2,500 700 1,200 2,700 1,100 3,000 39,000 65,000 7,000 Green Lantern for the year 2013: Cr 1,200 Cr 25,000 Debtors Dr 100 Cr 98.600 Creditors Dr 77,300 Cr 900 Write up the SLCA and the PLCA, clearly showing the amounts for credit sales and credit purchases for the year.

1. The following data was obtained from the books of The January 1 Bal bid Totals for the year Cash sales Cash purchases Sales returns Purchases returns Discount allowed Discounts received Bad debts Debtors Dr 45,000 Creditors Dr 3,900 Refund to credit customers Refund from credit suppliers Payments to creditors Receipts from debtors Dishonoured cheques Dec 31 Bal od 70,000 40,000 5,000 2,500 700 1,200 2,700 1,100 3,000 39,000 65,000 7,000 Green Lantern for the year 2013: Cr 1,200 Cr 25,000 Debtors Dr 100 Cr 98.600 Creditors Dr 77,300 Cr 900 Write up the SLCA and the PLCA, clearly showing the amounts for credit sales and credit purchases for the year.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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