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problem 1: What are the benefits of using an account to control the Debtor’s ledger?

problem 2: Make a Debtor’s ledger control account from the given information:

1542_debtors ledger.jpg

Cheque for the amount of Rs 288 from a customer was not honored by the bank. The customer has given the assurance which the cheque will be settled in August. A cash discount of Rs 32 was permitted to the customer.

A customer has an account of Rs 170 in the creditor’s ledger and it was decided to settle the two by a transfer.

problem 3: State where the information for each entry in Part B would be recorded in the account before being entered in the ledger.

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M96404

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