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

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 statement and the balance as per the subsidiary ledger account

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

The

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

The

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

The

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

A

debit note is a document issued by a supplier.

A

debit note is a document issued by the customer.

A

credit note is a document issued by the customer.

Debit

note

Bank

statement

EFT/Credit

card receipt

VAT

Invoice

Debtors

Statement

(a)  Keeps an account of transactions with each

debtor in individual accounts

(c) Records only cash received

from debtors

(d) Keeps an account of payments

made by the business

(b)  Records all credit sales by the business

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

end of the month

(d)     Lower sales value reflected in the trial

balance

(c)     Bad debts / Credit losses

(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

(b) 

Trade receivable figure will be net of the discount

(c)  We

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

the income we anticipate earning.

(d) Dr Trade

receivables          10,      Cr discount received        10

(c) Dr Trade receivables     100,     

Cr Sales                            

100

(a) Dr   Bank                           100,     Cr Sales                            100                       

(b) Dr Trade receivables       90,     

Cr Sales                              

90

(b)

Dr Trade receivables       90,      Cr Sales                               90

(c) Dr Trade

receivables     100,      Cr

Sales                             100

(a) Dr   Bank                           100,     Cr Sales                         100                 

(d) Dr Trad

receivables          10,      Cr discount received        10