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Creditors control account

SuchGold · 2012-02-25 16:16:19

Hi I can do all the adjustments except this one. Its the one involving the restocking charge. For 2010 it's: "Whelan had returned goods 840 to a supplier and entered this correctly in the books. A credit note arrived showing a deduction of 10% as a restocking charge. The total amount of this credit note was credited to the…

25-02-2012 5:16pm

#1

SuchGold

Registered Users Posts: 14 ✭

Join Date: February 2012

Posts: 12

Hi I can do all the adjustments except this one.
Its the one involving the restocking charge.
For 2010 it's:
"Whelan had returned goods 840 to a supplier and entered this correctly in the books. A credit note arrived showing a deduction of 10% as a restocking charge. The total amount of this credit note was credited to the creditors account. No other entry was made in the books."

From reading this i assume what happened was 756 was credited to creditors account. Did anything happen to the control account?

And what was suppose to happen?
I'm assuming that it should be debit 756 to creditors account and to control account.

Can someone help me with this please?
Thanks.

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Comments

#2 25-02-2012 5:46pm

Mr.Fun

Registered Users, Registered Users 2 Posts: 164 ✭✭

Join Date: October 2010

Posts: 144

Whelan had returned goods 840 to a supplier and entered this correctly in the books. thats what else happened!!!!!!!!!!!!!!!!!

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#3 26-02-2012 4:21pm

SuchGold

Registered Users Posts: 14 ✭

Join Date: February 2012

Posts: 12

bump...

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