Preparation of control accounts Prepare debtors’ and creditors’ control accounts for the year commencing 1 July 2018 from the following information: Balances at 1 July 2018 $ Debtors’ control...

Preparation of control accounts Prepare debtors’ and creditors’ control accounts for the year commencing 1 July 2018 from the following information: Balances at 1 July 2018 $ Debtors’ control 15 425 Creditors’ control 9 870 Summary of transactions to 30 June 2019 $ Credit sales 101 700 Cash sales 3 540 Credit purchases 71 620 Cash purchases 3 215 Cash paid to creditors 45 280 Discount allowed by suppliers 560 Discount given to debtors 725 Cash received from debtors 61 590