Ted Craven’s business recorded the following transactions during the period 7–14 July. Show how they would appear in the Day Books, the personal ledgers (Receivables Ledger and Payables Ledger) and the General Ledger. 7 Jul Invoices received from T. Rogers £300, P. Cox £800, J. Wall £450 10 Jul Inv

Question

Ted Craven’s business recorded the following transactions during the period
7–14 July. Show how they would appear in the Day Books, the personal ledgers
(Receivables Ledger and Payables Ledger) and the General Ledger.
7 Jul Invoices received from T. Rogers £300, P. Cox £800, J. Wall £450
10 Jul Invoices sent to L. Kenwood £790, A. Gardiner £980, L. Kerr £340
11 Jul Invoice received from P. Cox £100, and invoice sent to L. Kerr, £490
12 Jul Ted Craven returned goods worth £125 to P. Cox
13 Jul A. Gardiner returned goods to Ted Craven which cost £50
14 Jul Ted Craven paid the amount owing to P. Cox, and L. Kerr paid in full

Accepted Answer

Purchases Day Book
Date	Details	£
7 July	T. Rogers	300
	P. Cox	800
	L. Wall	450
11 July	P. Cox	100
		1,650

Sales Day Book
Date	Details	£
10 July	L. Kenwood	790
	A. Gardiner	980
	L. Kerr	340
11 July	L. Kerr	490
		2,600

Purchases Returns Day Book
Date	Details
12 July	P. Cox	125
		125

Sales Returns Day Book
Date	Details
13 July	A. Gardiner	50
		50

Payables Ledger

Sales Returns Day Book
Date	Details	Debit	Credit	Balance
7 July	Invoice		300	300 Cr

P. Cox account
Date	Details	Debit	Credit	Balance
7 july	Invoice		800	800 Cr
11 July	Invoice		100	900 Cr
12 July	Purchases returns	125		775 Cr
14 July	Bank	775		−

J. Wall account
Date	Details	Debit	Credit	Balance
7 July	Invoice		450	450 Cr

Receivables Ledger

L. Kenwood account
Date	Details	Debit	Credit	Balance
10 July	Invoice	790		790 Dr

A. Gardiner account
Date	Details	Debit	Credit	Balance
10 July	Invoice	980		980 Dr
13 July	Sales Returns		50	930 Dr

L. Kerr account
Date	Details	Debit	Credit	Balance
10 July	Invoice	340		340 Dr
11 July	nvoice	490		830 Dr
14 July	Bank		830	–

General Ledger

Sales account
Date	Details	Debit	Credit	Balance
14 July	Sales Day Book (total invoices)		2,600	2,600 Cr

Purchases account

Date	Details	Debit	Credit	Balance
14 July	Sales Day Book (total invoices)	1,650		1,650 Dr

Purchases returns account

Date	Details	Debit	Credit	Balance
14 July	Purchases Returns Day Book (total returns)		125	125 Cr

Sales returns account

Date	Details	Debit	Credit	Balance
14 July	Sales Returns Day Book (total returns)	50		50 Dr

Cash Book

Bank account
Date	Details	Debit	Credit	Balance
14 July	L. Kerr	830		830 Dr
	P. Cox		775	55 Dr

Question 2.5: Ted Craven’s business recorded the following transactions du...

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