Complete and balance the Debtors Control Account on 31 May 2015 from the following information:
€
Debtors balance on 1 May 2015 5,900
Total credit sales for May 6,100
Total cash received from debtors in May 5,400
Dr Debtors Control Account Cr
Date Details € Date Details €
OR (Alternative Format)
Debtors Control Account
Date Details Dr Cr Balance
€ € € - Junior Cycle Business Studies - Question 7 - 2017
Question 7
Complete and balance the Debtors Control Account on 31 May 2015 from the following information:
€
Debtors balance on 1 May 2015 5,900
Total credit sales for May ... show full transcript
Worked Solution & Example Answer:Complete and balance the Debtors Control Account on 31 May 2015 from the following information:
€
Debtors balance on 1 May 2015 5,900
Total credit sales for May 6,100
Total cash received from debtors in May 5,400
Dr Debtors Control Account Cr
Date Details € Date Details €
OR (Alternative Format)
Debtors Control Account
Date Details Dr Cr Balance
€ € € - Junior Cycle Business Studies - Question 7 - 2017
Step 1
Debtors balance on 1 May 2015
96%
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Answer
Use the provided debtors balance of €5,900 as the opening balance in the Debtors Control Account.
Step 2
Total credit sales for May
99%
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Answer
Record the total credit sales for May, which amounts to €6,100, as a debit entry in the control account.
Step 3
Total cash received from debtors in May
96%
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Answer
Record the cash received from debtors, totaling €5,400, as a credit entry in the control account.
Step 4
Balance c/d on 31 May 2015
98%
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Answer
Calculate the balance carried down as follows: Opening Balance + Credit Sales - Cash Received.
