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?
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Sales and Purchases
5y ago#1Yes, 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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