Prepare the creditors control account for september

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Reference no: EM132658079

Phakisa General Dealers is a retail business that buys and sells a wide range of products. The following balances were extracted from the general ledger on 31 August 2020.

Creditors 38 500

Bank 52 590

The following transactions took place in September 2020:

Date Transaction

3 -A cheque of R12 675 was received for a cash sale of goods.

8- Sent a cheque for R4 500 to Car Doctors for payment of outstanding account as a result of repairs done to the vehicles in August.

10- Paid R5 500 cash for fuel.

20 -Bought a computer (equipment) on credit for R7 800.

22 -Purchased inventory on credit for R5 000.

Paid rent of R10 400 by cheque for October.

28 -Paid R3 200 toward the settlement of the computer equipment bought on the 20th.

Required:

Problem 1: Prepare the creditors control account for September 2020 in the general ledger of Phaskisa General Dealers. Properly balance/ close off this account.

Reference no: EM132658079

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