Accounts Receivable Ledger Control Account Amount Amount Particulars Particulars (in $) (in $) Debit Credit balance balance 85,600 3,800 |(May 1, 2019) (Мay 1,2019) Sales Sales 451,600 13,400 journal returns Cash and Bank cheques received (cheque dishonored) 8,400 362,800 from customers Bad debts 6,000 written off Set off (balance trfd to 10,000 Accounts payable ledger) Discount |13,600 Allowed Credit Debit balance ( balance 1,000 137,000 May 31,2019) (Мay 31, 2019) Total 546,600 Total 546,600
Accounts Receivable Ledger Control Account Amount Amount Particulars Particulars (in $) (in $) Debit Credit balance balance 85,600 3,800 |(May 1, 2019) (Мay 1,2019) Sales Sales 451,600 13,400 journal returns Cash and Bank cheques received (cheque dishonored) 8,400 362,800 from customers Bad debts 6,000 written off Set off (balance trfd to 10,000 Accounts payable ledger) Discount |13,600 Allowed Credit Debit balance ( balance 1,000 137,000 May 31,2019) (Мay 31, 2019) Total 546,600 Total 546,600
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 13GI
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Using the information in the information in the image
1) calculate the net amount owed by credit customers on 31 May 2019
2) Explain one reason why the accounts receivable legder control accounts had both a debit and a credit balance
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