Debtors and Creditors Control Accounts The following figures were taken from the books of T - Leaving Cert Accounting - Question 2 - 2009

To prepare the Debtors Ledger Control Account, we start by listing all transactions affecting it in chronological order. The transactions for the month are as follows:

Debits:

• Balance b/d: €59,700
• Credit Sales: €34,600
• Interest charged: €1,440
• Bad Debts written off: €94.70
• Return In: €2,500
• Returns from Debtors Ledger to Creditors Ledger: €1,330

Total Debits:

$ext{Total Debits} = 59700 + 34600 + 1440 + 94.70 + 2500 + 1330 = 70700.70$

Credits:

• Discount allowed: €1,600
• Returns Out: €19,000
• Discount disallowed: €840
• Cheques dishonoured: €250
• Reserve bad debts: €400

Total Credits:

$ext{Total Credits} = 1600 + 19000 + 840 + 250 + 400 = 22790$

Balance c/d

• The balance carried forward at the end is calculated as:

$ext{Balance c/d} = ext{Total Debits} - ext{Total Credits}$

$ext{Balance c/d} = 70700 - 22790 = 47910$