Reference no: EM133072634
Question - The following balances were extracted from the books of sisto Ltd. for the month of April 2020:
Sh.'000
Debit balances (1 April 2020): Sales ledger 1,528,000
Purchases ledger 20,500
Credit balances (1 April 2020): Sales ledger 50,500
Purchases ledger 753,800
Discounts received 142,500
Discounts allowed 209,700
Purchase (including cash purchases of Sh.152,000) 1,334,000
Cash sales 618,000
Credit sales 3,068,200
Credit notes issued to customers for returned goods 75,000
Sales ledger debit balances off-set against purchases ledger 36,900
Payment to creditors 1,359,200
Interest charged by creditors on overdue accounts 69,000
Receipt from customers 2,578,000
Bad debts written off 37,200
Customer's unpaid cheques 26,100
Interest charged to customers on overdue accounts 96,100
Debt collection expenses charged to debtors 10,800
Credit notes received from suppliers 26,700
Balances as at 30 April 2020:
Purchases ledger (debt) 24,400
Sales ledger (credit) 30,700
Required -
(i) Make the Sales ledger control account for the month ended 30 April 2020.
(ii) Make the Purchases ledger control account for the month ended 30 April 2020.