1
Redraft each of the accounts given in your answer to 5.1 in three-column ledger style accounts.
2
Redraft each of the accounts given in your answer to 5.2 in three-column ledger style accounts.
3
Enter the following in the personal accounts (i.e. the creditor and debtor accounts) only. Do
not
write up the other accounts. Balance off each personal account at the end of the month. After
completing this, state which of the balances represent debtors and which represent creditors.
2008
Sept 1 Sales on credit to J Bee £520; T Day £630; J Soul £240.
2 Purchases on credit D Blue £390; F Rise £510; P Lee £280.
8 Sales on credit to T Day £640; L Hope £418.
10 Purchases on credit from F Rise £92; R James £870.
12 Returns inwards from J Soul £25; T Day £190.
17 We returned goods to F Rise £12; R James £84.
20 We paid D Blue by cheque £390.
24 J Bee paid us by cheque £400.
26 We paid R James by cheque £766.
28 J Bee paid us by cash £80.
30 L Hope pays us by cheque £418.