Arjit provided the following information for the month of July 2018. 1 Sales ledger control account balances 1 July 2018 Debit $4230 Credit $80 2 Transactions for the month ended 31 July 2018 $ Credit sales 9200 Cash sales 3100 Bad debts written off 450 Discount allowed 230 Returns inwards 740 Receipts from credit customers 8000 Refund to credit customer by cheque 300 Interest charged on overdue account 180 3 Sales ledger control account balances 1 August 2018 Debit ? Credit 150

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2018). The mark or mark type is shown in brackets.

1. [9] (a) Sales ledger control account: Debit side: July 1 Balance b/d 4230, July 31 Credit sales 9200 (1), July 31 Bank/refund 300 (1), July 31 Interest charged 180 (1), July 31 Balance c/d 150 Credit side: July 1 Balance b/d 80, July 31 Bad debts 450 (1), July 31 Discount allowed 230 (1), July 31 Returns inwards 740 (1), July 31 Bank/cash 8000 (1), July 31 Balance c/d 4560 Totals: 14060 (Debit) / 14060 (Credit) Bring down: August 1 Balance b/d 4560 (1)of, August 1 Balance b/d 150 (1)
2. [1] (b) Returns made after payment (1) / Refund due after payment (1) / Payment made in advance (1) / Accept other valid points. Max 1.
3. [6] (c) General Journal: Suspense Debit 20 (1), Dipu Credit 20 (1) Arca Debit 180 (1), Suspense Credit 180 (1) Discount allowed Debit 30 (1), Suspense Credit 30 (1)
4. [4] (d) Suspense account: Debit side: 2018 July 31 Balance b/d 190 (1)of, 2018 July 31 Arca 180 (1) Credit side: 2018 July 31 Dipu 20 (1), 2018 July 31 Discount allowed 30 (1)o/f Totals: 210 (Debit) / 210 (Credit)