CLASS EXERCISE-TRADE RECEIVABLES RECONCILIATION Mthembu Traders: The balance of the list of individual debtors per...
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Accounting
CLASS EXERCISE-TRADE RECEIVABLES RECONCILIATION
Mthembu Traders:
The balance of the list of individual debtors per TRL, R14 402
In the process of reconciling the balance on the TC account in the general ledger with the list of balances per TRL, the following errors were discovered:
- An adding error in the trade receivables list resulted in the total being undercast by R240.
- A credit sale of R730 to S Naidoo was left out of all records in error.
- A debtor, P Cele, who returned goods valued R178 on 24 August 20.20, was entered correctly in the sales returns journal but was posted as R196 in the personal account of P Cele.
- An invoice for merchandise sold on credit to debtor B Themba, R136 was recorded twice in the sales journal and posted accordingly.
REQUIRED
Prepare a corrected list of debtors to agree with the TRC -e Reconcile the TRC
CLASS EXERCISE-TRADE RECEIVABLES RECONCILIATION
Mthembu Traders:
The balance of the list of individual debtors per TRL, R14 402
In the process of reconciling the balance on the TC account in the general ledger with the list of balances per TRL, the following errors were discovered:
- An adding error in the trade receivables list resulted in the total being undercast by R240.
- A credit sale of R730 to S Naidoo was left out of all records in error.
- A debtor, P Cele, who returned goods valued R178 on 24 August 20.20, was entered correctly in the sales returns journal but was posted as R196 in the personal account of P Cele.
- An invoice for merchandise sold on credit to debtor B Themba, R136 was recorded twice in the sales journal and posted accordingly.
REQUIRED
Prepare a corrected list of debtors to agree with the TRC -e Reconcile the TRC
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