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Prepare the receivables control account

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Reference no: EM132508999

Haiphong is a sole trader who does not keep full accounting records. The following details relate to her transactions with credit customers and suppliers for the year ended 30 June 2019:

                                                                  £

Trade receivables, 1 July 2018                130,000

Cash received from customers                   686,400

Discounts allowed                                       1,400

Discounts received                                            2,960

Contra between payables and receivables ledgers  2,000

Trade receivables, 30 June 2019                            181,000

Required:

Question 1: Prepare the receivables control account, and derive the sales figure that should appear in Haiphong's income statement for the year ended 30 June 2019

Reference no: EM132508999

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