Question

① from the following information prepare a debtors account & creditors account for the year ended 31st December
2019
Opening Balance of Debtors - 20,000
Opening balance of Creditors-
10,000
Cash recieved - 1,00,000
Credit sales - 2,00 voo
Cash sales - 1,00,000
Credit purchase - 1,00,000
Bad debt - 10,000
Cash paid - 80,000
Return inward - 10,000
Return outward - 10,000​

Answer 1

Answer:

Debtors account

dr. . . cr. Balance b/d. 20000

credit sales 200000. cash 100000

received

.... bad debt. 10000

return

inward. 10000

balance c/d 100000

total. 220000. total. 220000

.

Creditors account

dr. . cr

balance b/d 10000 cash paid. 80000 credit

purchase 100000

return outward

10000

balance c/d. 20000

total. 110000. total. 110000