The following information was taken from the books of Towel Talk for January and February 2021: List of balances in the Debtors Ledger of Towel Talk as at 31 January 2021: Debtor Fol Amount
The following information was taken from the books of Towel Talk for January and February 2021: List of balances in the Debtors Ledger of Towel Talk as at 31 January 2021: Debtor Fol Amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
2.2 Prepare the individual account of L. Simpson in the debtors ledger of Towel Talk for February 2021. (Round off to the nearest rand)
![04:32
The following information was taken from the books of Towel Talk for January and February 2021:
List of balances in the Debtors Ledger of Towel Talk as at 31 January 2021:
Debtor
Fol
Amount
L Simpson
D1
R12 000
Marvel Ltd
D2
R13 900
R Green
D3
R9 600
Home Centre Ltd
D4
R2 300
D Patel
DS
R16 S00
R54 300
O The Independent institute of Education (Py Ltd 2021
Page 4of
2021
Debtors Journal of Towel Talk - February 2021
DOC NO DATE
DETAILS
FOL
DEBTORS
OUTPUT
SALES
CONTROL
VAT
INV203
2
Marvel Ltd
D2
17 250
2 250
15 000
INV204
8
Home Centre Ltd
D4
24 150
3 150
21 000
INV205
12
L. Simpson
D1
2 875
375
2 500
INV206
18
D. Patel
DS
9 775
1275
8 500
INV207
22
R. Green
D3
1 093
143
950
INV208
24
L. Simpson
D1
5 175
675
4 500
INV209
28
D. Patel
DS
2 300
300
2 000
62 618
8 168
54 450
Debtors Allowances Journal of Towel Talk - February 2021
DOC NO DATE
DETAILS
FOL DEBTORS
INPUT VAT
SALES
CONTROL
RETURNS
CN45
4
Marvel Ltd
D2
2875
375
2 500
CN46
13
L Simpson
D1
575
75
500
CN47
23
R. Green
D3
230
30
200
CN48
25
L. Simpson
D1
5 175
675
4 500
8 855
1155
7 700
Cashbook Receipts of Towel Talk - February 2021
DOC
DATE DETAILS FOL BANK
DEBTORS
OUTPUT SALS
SUNDRIES
NO
CONTROL VAT
AMOUNT FOL DETAILS
CR333 1
CRI4 7
B. Pitt
20 700
2 700
18 000
H.
3795
495
3 300
Services
Homer
Rendered
DR28 14
D1
8000
8000
Simpson
CR335 19
Cash
3 600
27 600
24 000
DR29
23
D. Patel
DS
24 961
24961
DR30
26
D1
5 985
5985
Simpson
91 041
38 946
6 795
42 000
3 300](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe98bebf8-6484-4031-a206-08e121541026%2F1904f5df-3a8d-46c5-8a1d-ea1287b4b9f0%2Fw06srti_processed.jpeg&w=3840&q=75)
Transcribed Image Text:04:32
The following information was taken from the books of Towel Talk for January and February 2021:
List of balances in the Debtors Ledger of Towel Talk as at 31 January 2021:
Debtor
Fol
Amount
L Simpson
D1
R12 000
Marvel Ltd
D2
R13 900
R Green
D3
R9 600
Home Centre Ltd
D4
R2 300
D Patel
DS
R16 S00
R54 300
O The Independent institute of Education (Py Ltd 2021
Page 4of
2021
Debtors Journal of Towel Talk - February 2021
DOC NO DATE
DETAILS
FOL
DEBTORS
OUTPUT
SALES
CONTROL
VAT
INV203
2
Marvel Ltd
D2
17 250
2 250
15 000
INV204
8
Home Centre Ltd
D4
24 150
3 150
21 000
INV205
12
L. Simpson
D1
2 875
375
2 500
INV206
18
D. Patel
DS
9 775
1275
8 500
INV207
22
R. Green
D3
1 093
143
950
INV208
24
L. Simpson
D1
5 175
675
4 500
INV209
28
D. Patel
DS
2 300
300
2 000
62 618
8 168
54 450
Debtors Allowances Journal of Towel Talk - February 2021
DOC NO DATE
DETAILS
FOL DEBTORS
INPUT VAT
SALES
CONTROL
RETURNS
CN45
4
Marvel Ltd
D2
2875
375
2 500
CN46
13
L Simpson
D1
575
75
500
CN47
23
R. Green
D3
230
30
200
CN48
25
L. Simpson
D1
5 175
675
4 500
8 855
1155
7 700
Cashbook Receipts of Towel Talk - February 2021
DOC
DATE DETAILS FOL BANK
DEBTORS
OUTPUT SALS
SUNDRIES
NO
CONTROL VAT
AMOUNT FOL DETAILS
CR333 1
CRI4 7
B. Pitt
20 700
2 700
18 000
H.
3795
495
3 300
Services
Homer
Rendered
DR28 14
D1
8000
8000
Simpson
CR335 19
Cash
3 600
27 600
24 000
DR29
23
D. Patel
DS
24 961
24961
DR30
26
D1
5 985
5985
Simpson
91 041
38 946
6 795
42 000
3 300
![04:32
2021
General Journal of Towel Talk - February 2021
DOC
DATE DETAILS
FOL DEBIT
CREDIT
NO
JV25
23
Sales
1143
Input VAT
171
Debtors Control/D. Patel
DS
1314
(Settlement Discount of 5%)
JV26
26
Sales
274
Input VAT
41
Debtors Control/L Simpson D1
315
(Settlement Discount of 5%)
JV27
28
Credit losses
23 000
Input VAT
3 450
Debtors Control/Home
D4
26 450
Centre
(Amount written off as irrecoverable)
JV28
28
Debtors Control/Marvel Ltd
D2 ?
Interest Received
(Interest for the month on overdue
account at 10% per annum calculated
on the month end balance)
Additional information:
The cheque received from L. Simpson on the 26" February in settlement of her account
was returned by the bank marked R/D on the 28 February 2021. This transaction has not
yet been recorded.
The debtors control and debtors list was reconciled on the 31" January 2021](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe98bebf8-6484-4031-a206-08e121541026%2F1904f5df-3a8d-46c5-8a1d-ea1287b4b9f0%2Fwikahoh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:04:32
2021
General Journal of Towel Talk - February 2021
DOC
DATE DETAILS
FOL DEBIT
CREDIT
NO
JV25
23
Sales
1143
Input VAT
171
Debtors Control/D. Patel
DS
1314
(Settlement Discount of 5%)
JV26
26
Sales
274
Input VAT
41
Debtors Control/L Simpson D1
315
(Settlement Discount of 5%)
JV27
28
Credit losses
23 000
Input VAT
3 450
Debtors Control/Home
D4
26 450
Centre
(Amount written off as irrecoverable)
JV28
28
Debtors Control/Marvel Ltd
D2 ?
Interest Received
(Interest for the month on overdue
account at 10% per annum calculated
on the month end balance)
Additional information:
The cheque received from L. Simpson on the 26" February in settlement of her account
was returned by the bank marked R/D on the 28 February 2021. This transaction has not
yet been recorded.
The debtors control and debtors list was reconciled on the 31" January 2021
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