Illustration 6.1 Extracts from the books of JK Ltd. shows the following balances for the month of June 2016 N'000 Sales ledger balances - 1 June 2016 4,702 Purchases ledger balances - 1 June 2016...

Extracted text: Illustration 6.1 Extracts from the books of JK Ltd. shows the following balances for the month of June 2016 N'000 Sales ledger balances - 1 June 2016 4,702 Purchases ledger balances - 1 June 2016 2,757 Sales journal balances - 30 June 2016 37,437 Purchases joumal balances - 30 June 2016 40,800 Returns Inwards 910 Returns Outwards 749 Receipts from Customers - Cash 38,529 Discount allowed 1,345 Payments to Suppliers 35,415 Discounts received 746 Irecoverable debts written off 115 Sales ledger set off 209 Purchases ledger set off 110 On 30 June 2016, it was discovered that a supplier was paid twice in error for N157. The amount was refunded on that date. You are required to Prepare the sales and purchases ledger balances at 1 July 2016. (Adapted from ATS ICAN)