Missing figures from a control account
No list of sales or purchases? Rebuild the trade receivables and trade payables accounts and the missing figure is the one that balances.
Task 1Credit sales from the receivables account4 questions
A business that sells on credit may have no list of its sales. But it knows what customers owed at the start, what they paid, and what they owe now.
Put those into a trade receivables account. Credit sales are the figure that makes the two sides agree.
| Debit side | £ | Credit side | £ |
|---|---|---|---|
| Balance at 1 January | 800.00 | Money received from customers | 30,000.00 |
| Credit sales | ? | Irrecoverable debt written off | 100.00 |
| Balance at 31 December | 1,200.00 |
Add up the full side first. Then take the known figures on the other side away from that total.
Task 2Credit purchases from the payables account3 questions
Task 3Other figures from the same accounts2 questions