Homework answers / question archive / Your manager has provided you with a list of his debtors and creditors: Accounts Receivable balance at March 1, 2016 - $ 79,750Accounts Payable balance at March 1, 2016 - 11,550Invoices received from Subcontractors (Suppliers) - 7,645Invoices sent to clients for consulting services - 137,500Fee income received in cash - 12,200Expenses paid in cash - 4,400Contra of accounts payable to accounts receivable - 2,880Cash received from accounts receivable - 120,000Bad debt (including GST) written off - 880Cash payments to accounts payable - 32,000Purchase of Motor Vehicle on credit - 30,800Interest income received in cash - 8,000 Required:1

Your manager has provided you with a list of his debtors and creditors: Accounts Receivable balance at March 1, 2016 - $ 79,750Accounts Payable balance at March 1, 2016 - 11,550Invoices received from Subcontractors (Suppliers) - 7,645Invoices sent to clients for consulting services - 137,500Fee income received in cash - 12,200Expenses paid in cash - 4,400Contra of accounts payable to accounts receivable - 2,880Cash received from accounts receivable - 120,000Bad debt (including GST) written off - 880Cash payments to accounts payable - 32,000Purchase of Motor Vehicle on credit - 30,800Interest income received in cash - 8,000 Required:1

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Your manager has provided you with a list of his debtors and creditors:
Accounts Receivable balance at March 1, 2016 - $ 79,750Accounts Payable balance at March 1, 2016 - 11,550Invoices received from Subcontractors (Suppliers) - 7,645Invoices sent to clients for consulting services - 137,500Fee income received in cash - 12,200Expenses paid in cash - 4,400Contra of accounts payable to accounts receivable - 2,880Cash received from accounts receivable - 120,000Bad debt (including GST) written off - 880Cash payments to accounts payable - 32,000Purchase of Motor Vehicle on credit - 30,800Interest income received in cash - 8,000
Required:1. Prepare the Accounts Receivable Control account, as it would appear in the general ledger.
2. Prepare the Accounts Payable Control account, as it would appear in the general ledger. (All amounts include GST)