The balance of Artemis' sales ledger control account on 31 July 2023 was $39 130. On that same date, the list of balances contained in the sales ledger amounted to $36 750. After investigation the following errors were found. 1. A credit sale of $3 050 had been made to Gilles but no entries had been made to record this transaction. 2. The discount allowed total in the cash book had been undercast by $370. 3. A sales return of $600 from Betty was correctly recorded in the sales ledger but had been omitted from the total of the return inwards journal. 4. A cheque received in June from Francis for $1 840 had been dishonoured. No entries have been made to record this dishonoured cheque. 5. A credit sale of $1500 to Harry was correctly recorded in the sales journal but no entry had been made in the sales ledger. 6. The sales recorded in the control account had been overcast by $250. 7. A receipt from a credit customer of $340 had been omitted from the list of balances. REQUIRED: a) Prepare a corrected sales ledger control account. Brepare tetement amending the total of the s

The balance of Artemis' sales ledger control account on 31 July 2023 was $39 130. On that same date, the list of balances contained in the sales ledger amounted to $36 750. After investigation the following errors were found. 1. A credit sale of $3 050 had been made to Gilles but no entries had been made to record this transaction. 2. The discount allowed total in the cash book had been undercast by $370. 3. A sales return of $600 from Betty was correctly recorded in the sales ledger but had been omitted from the total of the return inwards journal. 4. A cheque received in June from Francis for $1 840 had been dishonoured. No entries have been made to record this dishonoured cheque. 5. A credit sale of $1500 to Harry was correctly recorded in the sales journal but no entry had been made in the sales ledger. 6. The sales recorded in the control account had been overcast by $250. 7. A receipt from a credit customer of $340 had been omitted from the list of balances. REQUIRED: a) Prepare a corrected sales ledger control account. Brepare tetement amending the total of the s

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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