Question 3

The following totals were taken from the books of George Bate and represent entries for the month ending May31, 2007.

(a) Prepare the Sales Ledger Control accounts, and Purchases Ledger Control Accounts for George Bate for May 31, 2007.

(b) State two functions of Control Accounts.

(c)  Henry Headley George Bate $3,000 as a customer. Because of bankruptcy he is only able to 20 % of the amount owed. How would this affect the control account of George Bate.

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