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Discuss between the general ledger bank account balance

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Reference no: EM132726032

The following information refers to Thuthukani Stores for April 2016:

Balance of the debtors control account at 1 April 2016 R15400

Totals of journals for the month:

Columns in the Cash Receipts Journal:

Cash sales R200 000

Debtors control R63 400

Settlement discount granted R1 600

Columns in the Cash Payments Journal:

Creditors control R34000

Settlement discount received R900

Debtors control( credit balance repaid) R600

R/D cheque from debtor P.Penny R800

Sales journal: Debtors control R65 000

Sales returns journal(all on credit sales) R400

General journal: interest charged to debtors R300

REQUIRED:

Problem 1: attempt a debtors control account properly balanced for April 2016.

Problem 2: Briefly discuss the items that can cause differences between the general ledger bank account balance (as prepared by the bookkeeper) and the balance as per bank statement (prepared by the bank). Use examples to illustrate your answer.

Reference no: EM132726032

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