B4. The information below was extracted from the books of Sharon for May 2016.Balances in the ledgers on 1 May 2016Debtors control account balance N$ 22,600Creditors control account balance N$15,400Information for the month ended 31 May 2016Credit sales N$34,700Credit Purchases N$46,900Cheque received from debtors N$17,000Cheque payments to creditors N$9,500Cash received from debtors N$2,800Goods return back by the customers N$4,100Goods sent back to the suppliers N$3,200Discount allowed to customer N$ 1200Discount Received from customer N$ 920Contra Entry N$ 300Bad Debts written off N$ 2700Bad Debit recovered N$ 1 340Provision for doubtful debts N$ 1400Required.prepare the debtors control account and creditors control account

Debtors control account also known as Sales Ledger control account and Creditors control account…

Answered: Required prepare the debtors control…

Business

Accounting

Required prepare the debtors control account and creditors control account

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 9E: Estimating Bad Debts from Receivables Balances The following information is extracted from Shelton...

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