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Sales and Purchases

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Sales and Purchases

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by John Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • February 16, 2021 at 4:48 am #610576
    RGVND
    Member
    • Topics: 2
    • Replies: 1
    • ☆

    The following entries appeared in the receivable ledger control account for June. Balance b/f 1st
    June is $7,500, sales $20,000, receipts from customers $8,000, irrecoverable debts written off $900.

    May I know how to solve this?

    This is how I did it, but I am unsure if I am right::

    Dr Side:

    Bal b/f – $ 7500
    Sales – $ 20,000

    Cr Side:

    Receipts: $ 8000
    Irrecoverable Debts: $ 900

    Hence,

    Bal b/f ($7,500) + Sales ($20,00) = $ 27,500 – Receipts ($8,000) – Irrecoverable Debts ($900) = 18,600

    Is this correct?

    February 16, 2021 at 8:07 am #610593
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54735
    • ☆☆☆☆☆

    Yes, it is correct (although why are you attempting a question for which you do not have an answer – you should be using a Revision Kit from one of the ACCA Approved Publishers because they are full of questions with answers 🙂 )

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