make a debtors account
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Answer:
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Explanation:
(Ernakulam, Kerala, India)
Q: The following relate to a trader for the month ended 31 st January 2006 (rs = Rupees = Indian currency):
Sundry debtors on 1.1.06 (Dr) rs 9,000
Sundry debtors 1.1.06 (Cr)rs 200
Transactions for the month of January 2006:
Total sales rs 92,000
Bills received rs 15,000
Cash received from debtors rs 48,000
Discount and allowances rs 3,000
Trade discount and rebate on sale rs 2,400
Bills receivable dishonored rs 5,000
Bad debts written off rs 1,800
Return by debtors rs 2,200
Provision for bad debts rs 1,100
Noting charges of dishonored bills rs 100
Interest charged on renewal of bill rs 200
Bills received on renewal rs 5,300
Transfer from debtors to creditors ledger rs 4,000
On 31.1.06 debtors ledger shows credit balance in two accounts for total of rs 300.
Net debit balance as per schedule of debtors on 31 st January 2006 was rs 4,900.
Required:
Prepare the total debtors account and see whether the balance obtained agrees with the balance as per schedule.
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