Document

that explains the difference between the total amount payable as per the

general ledger and the amount paid by the business

Document

that advises of suppliers of the errors processed in the business accounting

records

Document

that explains the difference between the total amount payable as per the

supplier’s subsidiary ledger account and the amount paid by the business

Document that explains the

difference between the total amount payable as per the supplier’s

statement  and the total amount payable

as per the general ledger

Document

that explains the difference between the total amount payable as per the

supplier’s statement and the balance as per the subsidiary ledger account

The

error will be a reconciling item on the creditor’s reconciliation statement

The

error will be adjusted for in the subsidiary ledger of the business.

The

error will appear on the list of items on the remittance advice

A

debit note is a document issued by the customer.

A

credit note is a document issued by the customer.

A

debit note is a document issued by a supplier.

VAT

Invoice

Debit

note

Debtors

Statement

Bank

statement

EFT/Credit

card receipt

(d) Keeps an account of payments

made by the business

(c) Records only cash received

from debtors

(a)  Keeps an account of transactions with each

debtor in individual accounts

(b)  Records all credit sales by the business

(a)    There will be a deficit in the stock at the

end of the month

(c)     Bad debts / Credit losses

(d)     Lower sales value reflected in the trial

balance

(b)     Customer might return the stock in a poor

condition

(a)  We will recognize the full amount as sales,

as this is the income we are anticipating

(c)  We

will recognize sales in the profit calculation net of the discount as this is

the income we anticipate earning.

(b) 

Trade receivable figure will be net of the discount

(c) Dr Trade receivables     100,     

Cr Sales                            

100

(d) Dr Trade

receivables          10,      Cr discount received        10

(b) Dr Trade receivables       90,     

Cr Sales                              

90

(a) Dr   Bank                           100,     Cr Sales                            100                       

(a) Dr   Bank                           100,     Cr Sales                         100                 

(b)

Dr Trade receivables       90,      Cr Sales                               90

(c) Dr Trade

receivables     100,      Cr

Sales                             100

(d) Dr Trad

receivables          10,      Cr discount received        10