The following information relates to a business for the year ended 31 December 2019: 24 Trade receivables at 1 January 2019 Trade payables at 1 January 2019 Discounts received 289,376 301,972 21,069 69,589 795,373 9,550 12,956 Cash sales Cash from credit customers Irrecoverable debts to be written off Discounts allowed Returns inwards 7,000 Amounts paid to suppliers 475,353 Returns outwards 3,525 626,575 Credit sales Receivables to be allowed for (additional to those to be written off) 9,527 What is the balance on the trade receivables ledger control account at 31 December 2019?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Ivan Lyulyumov IFF 19-5
The following information relates to a business for the year ended 31 December 2019:
$
Trade receivables at 1 January 2019
289,376
Trade payables at 1 January 2019
Discounts received
301,972
21,069
Cash sales
69,589
Cash from credit customers
795,373
Irrecoverable debts to be written off
9,550
Discounts allowed
12,956
Returns inwards
7,000
Amounts paid to suppliers
475,353
Returns outwards
3,525
Credit sales
626,575
Receivables to be allowed for
(additional to those to be written off)
9,527
What is the balance on the trade receivables ledger control account at 31 December 2019?
A $81,545
B $91,072
C $104,028
D $101,501
Transcribed Image Text:Ivan Lyulyumov IFF 19-5 The following information relates to a business for the year ended 31 December 2019: $ Trade receivables at 1 January 2019 289,376 Trade payables at 1 January 2019 Discounts received 301,972 21,069 Cash sales 69,589 Cash from credit customers 795,373 Irrecoverable debts to be written off 9,550 Discounts allowed 12,956 Returns inwards 7,000 Amounts paid to suppliers 475,353 Returns outwards 3,525 Credit sales 626,575 Receivables to be allowed for (additional to those to be written off) 9,527 What is the balance on the trade receivables ledger control account at 31 December 2019? A $81,545 B $91,072 C $104,028 D $101,501
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