QUESTION 1B- Complete the table by identifying the Book of Original Entry for EACH source of information. * b. The table below shows sources of Debtors Ledger Control Accounts. Complete the table to show the Book of Original Entry for EACH source of information. Source of Information Book of Original Entry Total refund to debtors Total dishonoured cheques Total credit sales Total returns inwards Receipts from debtors Total discounts allowed Total bad debts
Bad Debts
At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.
Accounts Receivable
The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.
![QUESTION 1 B - Complete the table by identifying the Book of Original
Entry for EACH source of information. *
b. The table below shows sources of Debtors' Ledger Control Accounts.
Complete the table to show the Book of Original Entry for EACH source of
information.
Source of Information
Book of Original Entry
Total refund to debtors
Total dishonoured cheques
Total credit sales
Total returns inwards
Receipts from debtors
Total discounts allowed
Total bad debts
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OUESTION 4B- You are required to prepare An Income and Expenditure
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