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R Commence this question on a new (separate) page. The following information was extracted from...

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Accounting

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R Commence this question on a new (separate) page. The following information was extracted from the trial balance of Jumbo Traders for the years ended 30 September 2012 and 30 September 2013 30 September 30 September 2013 2012 R Inventory 165 000 155 000 Debtors control 203 000 159 000 Allowances for credit losses 25 000 18 000 Creditors control 120 000 68 000 Additional information (a) Cash received from customers dunng the year ended 30 September 2013, amounted to R950 000 and credit losses of R8 000 had been written off (b) Cash payments to suppliers during the year ended 30 September 2013, amounted to R560 000 The perpetual inventory system is in use REQUIRED: Calculate the gross profit of Jumbo Traders for the year ended 30 September 2013, by preparing the following general ledger accounts 51 Inventory (5) 52 Debtors control (6) 53 Creditors control (5) 54 Trading account (3) (19)

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