Q.2.2 Prepare the individual account of L. Simpson in the debtors ledger of Towel Talk for February 2021. (Round off to the nearest rand) Q.2.3

Q.2.2 Prepare the individual account of L. Simpson in the debtors ledger of Towel Talk for February 2021. (Round off to the nearest rand) Q.2.3 Prepare the debtors list of Towel Talk as at 28 February 2021. (Round off to the nearest rand) (Show all workings) Transcribed Image Text: The following information was taken from the books of Towel Talk for January and February 2021:
List of balances in the Debtors Ledger of Towel Talk as at 31 January 2021:
Debtor
Fol
Amount
L Simpson
D1
R12 000
Marvel Ltd
D2
R13 900
R Green
D3
R9 600
Home Centre Ltd
D4
R2 300
D Patel
R16 500
D5
R54 300
O The Independent Institute of Education (Pty) Ltd 2021
Page 4 of 8
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2021
Debtors Journal of Towel Talk – February 2021
DOC NO DATE
DETAILS
FOL DEBTORS
SALES
OUTPUT
CONTROL
VAT
INV203
2
Marvel Ltd
D2
17 250
2
2 250
15 000
INV204
8.
Home Centre Ltd
D4
24 150
3 150
21 000
INV205
12
L. Simpson
D1
2 875
375
2 500
INV206
18
D. Patel
D5
9 775
1 275
8 500
INV207
22
R. Green
D3
1 093
143
950
INV208
24
L. Simpson
D1
5 175
675
4 500
INV209
28
D. Patel
D5
2 300
300
2 000
62 618
8 168
54 450
Debtors Allowances Journal of Towel Talk – February 2021
DOC NO
DATE
DETAILS
FOL DEBTORS
INPUT VAT SALES
RETURNS
CONTROL
|CN45
Marvel Ltd
D2
2 500
4
2 875
375
CN46
13
L. Simpson
D1
575
75
500
CN47
23
R. Green
D3
230
30
200
4 500
7 700
CN48
25
L. Simpson
D1
5 175
675
8 855
1 155
Cashbook Receipts of Towel Talk – February 2021
DOC
DATE
DETAILS
FOL
BANK
DEBTORS
OUTPUT
SALES
SUNDRIES
NO
CONTROL
VAT
AMOUNT
FOL DETAILS
CR333
1
B. Pitt
20 700
2 700
18 000
CR334 7
3 795
495
3 300
Services
H.
Homer
Rendered
DR28
14
L.
D1
8 000
8 000
Simpson
CR335
19
Cash
27 600
3 600
24 000
DR29
23
D. Patel
D5
24 961
24 961
DR30
26
L.
D1
5 985
5 985
Simpson
91 041
38 946
6 795
42 000
3 300 Transcribed Image Text: General Journal of Towel Talk – February 2021
DOC
DATE DETAILS
FOL DEBIT
CREDIT
NO
JV25
23
Sales
1143
Input VAT
171
Debtors Control/D. Patel
D5
1314
(Settlement Discount of 5%)
JV26
26
Sales
274
Input VAT
41
Debtors Control/L. Simpson
D1
315
(Settlement Discount of 5%)
JV27
28
Credit losses
23 000
Input VAT
Debtors Control/Home
3 450
D4
26 450
Centre
(Amount written off as irrecoverable)
Debtors Control/Marvel Ltd
JV28
28
D2
Interest Received
(Interest for the month on overdue
account at 10% per annum calculated
on the month end balance)
Additional information:
The cheque received from L. Simpson on the 26″ February in settlement of her account
was returned by the bank marked R/D on the 28h February 2021. This transaction has not
yet been recorded.
The debtors control and debtors list was reconciled on the 31″ January 2021

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