Prepare the correct Creditors Control account for May 2020 after taking into account the additional information, errors and omissions. Balance the account. (10) INFORMATION The Creditors control account given below was extracted from the records of Oyster Traders for May 2020 before the additional information, errors and omissions provided were considered: Additional information, errors and omissions 1. The debit balance in the account of a creditor, R300, must be transferred to the Debtors ledger. 2. An invoice for goods purchased from Super Suppliers was entered in the Purchases journal as R6 400 instead of R4 600. 3. A credit purchase of equipment from Minto Enterprises was not recorded, R5 000. 4. A credit note received from HD Wholesalers for trading goods returned was not recorded in the Purchases Returns Journal, R1 000. 5. Stardom Traders, a creditor, charged Oyster Traders interest on overdue account, R50
Prepare the correct Creditors Control account for May 2020 after taking into account the additional information, errors and omissions. Balance the account. (10)
INFORMATION
The Creditors control account given below was extracted from the records of Oyster Traders for May 2020 before the additional information, errors and omissions provided were considered:
Additional information, errors and omissions
1. The debit balance in the account of a creditor, R300, must be transferred to the Debtors ledger.
2. An invoice for goods purchased from Super Suppliers was entered in the Purchases journal as R6 400 instead of R4 600.
3. A credit purchase of equipment from Minto Enterprises was not recorded, R5 000.
4. A credit note received from HD Wholesalers for trading goods returned was not recorded in the Purchases Returns Journal, R1 000.
5. Stardom Traders, a creditor, charged Oyster Traders interest on overdue account, R50
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