Emily is a sole trader. Emily’s payables ledger control account shows a balance of $24,903 which does not agree with the payables ledger. She has found three errors: A purchase invoice has been entered into the purchase day book as $594 rather than $495 The purchase day book has been undercast by $200 Discounts received of $150 from credit suppliers have not been entered in the control account What is the corrected payables ledger control account balance?
Emily is a sole trader. Emily’s payables ledger control account shows a balance of $24,903 which does not agree with the payables ledger. She has found three errors: A purchase invoice has been entered into the purchase day book as $594 rather than $495 The purchase day book has been undercast by $200 Discounts received of $150 from credit suppliers have not been entered in the control account What is the corrected payables ledger control account balance?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Emily is a sole trader. Emily’s payables ledger control account shows a balance of $24,903 which does not agree with the payables ledger. She has found three errors:
A purchase invoice has been entered into the purchase day book as $594 rather than $495
The purchase day book has been undercast by $200
Discounts received of $150 from credit suppliers have not been entered in the control account
What is the corrected payables ledger control account balance?
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