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Prepare the creditors control account in the general ledge

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Question - You are provided with the following extracts (totals) of the subsidiary journals for Fit Traders for March 2020.

Cashbook payments Creditors journal Creditors allowances journal

The general journal reflects a transaction of R575 including VAT that relates to a settlement discount that was received from a creditor.

Bank Creditors control VAT Input

Sundry accounts R126 500 R75 000 R16 500 R35 000

Creditors control VAT Input Trading inventory

Sundry accounts R74 750 R9 750 R60 000 R5 000

Creditors control VAT Output Trading inventory

Sundry accounts R25 300 R3 300 R20 000 R2 000

Required -

Prepare the creditors control account in the general ledge of Fit traders for March 2020. Assume an opening balance of R30 000.

Properly balance the account at the end of the month.

Reference no: EM132713309

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