Question 2 The balances in the Trade Receivables Control account and Trade Payables Control account of Harapan Sdn Bhd as at 30 September are as follows: RM Trade Receivables Control account 146,100 Trade Payables Control account 104,200 During the following month of October the summarised transactions below occurred: RM (i) Credit sales 98,800 (ii) Cash sales 35,700 (iii) Credit purchases 83,400 (iv) Goods returned from receivables 2,800 (v) Goods returned to payables 1,500 (vi) Discount allowed to receivables 600 (vii) Receivables’ cheques subsequently dishonoured 4,100 (viii) Balances in the receivables ledger offset against balances in the payables ledger 6,300 Additional information RM Cheques received from trade receivables 93,800 Cheques paid to trade payables 87,700 Required: Prepare the Trade Receivables Control account and Trade Payables Control account for Harapan Sdn Bhd for the month of October. Ensure that the opening and closing balances are clearly shown in each account.
Question 2
The
|
|
RM |
|
Trade Receivables Control account |
146,100 |
|
Trade Payables Control account |
104,200 |
During the following month of October the summarised transactions below occurred:
|
|
|
RM |
|
(i) |
Credit sales |
98,800 |
|
(ii) |
Cash sales |
35,700 |
|
(iii) |
Credit purchases |
83,400 |
|
(iv) |
Goods returned from receivables |
2,800 |
|
(v) |
Goods returned to payables |
1,500 |
|
(vi) |
Discount allowed to receivables |
600 |
|
(vii) |
Receivables’ cheques subsequently dishonoured |
4,100 |
|
(viii) |
Balances in the receivables ledger offset against balances in the payables ledger |
6,300 |
Additional information
|
|
RM |
|
Cheques received from trade receivables |
93,800 |
|
Cheques paid to trade payables |
87,700 |
Required:
Prepare the Trade Receivables Control account and Trade Payables Control account for Harapan Sdn Bhd for the month of October. Ensure that the opening and closing balances are clearly shown in each account.
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