Mr. Osodo, a sole trader in Mumias town does not keep complete set of accounting books. However, the following information was obtained from his general operation...

      

Mr. Osodo, a sole trader in Mumias town does not keep complete set of accounting
books. However, the following information was obtained from his general operation book for
the year ending 31/12/209
Shs.
Debtors balance on 1/1/2009 24000
Bad debts 2000
Creditors balance 1/1/2009 68000
Debtors balance on 31/12/2009 72000
Discount allowed 18000
Creditors balance on 31/12/2009 83600
Returns inwards 5600
Cash paid to creditors 590000
Returns outwards 10200
Cash received from debtors 298000
Discount disallowed 1000
Dishonored cheques 36000
Discount received 6000

Additional information
He also disclosed that he had paid cash purchases amounting to Shs.483400 and received cash
sales of Shs.70000 for the year
Required; i) Prepare total debtors account and total creditors account
ii) Calculate total purchases and total sales for the year

  

Answers


Kavungya
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Kavungya answered the question on April 4, 2019 at 08:11


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