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Make the receivables control account

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Haiphong is a sole trader who does not keep full accounting records. The following details relate to her transactions with credit customers and suppliers for the year ended 30 June 2019:

                                                                    £

Trade receivables, 1 July 2018                      130,000

Cash received from customers                     686,400

Discounts allowed                                      1,400

Discounts received                                          2,960

Contra between payables and receivables ledgers 2,000

Trade receivables, 30 June 2019                        181,000

Required:

Question 1: Prepare the receivables control account, and derive the sales figure that should appear in Haiphong's income statement for the year ended 30 June 2019

Reference no: EM132511738

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