Sales ledger control accounts

Date details $ Date Details $

1.415 Bal b/d 475 30.4 sales return 46
### cr sales 590 bank 387
bank(dis cheq) 26 dis allowed 13
int charged 8 bad debts 32
setoff/contra 150
30.4 Bal c/d 21
30.4 bal c/d 492
1120 1120
1.5.15 Bal b/d 492 1.5.15 Bal b/d 21

Sales ledger control accounts

Date details $ Date Details $
1.415 Bal b/d 13400 30.4 sales return 120
### cr sales 165600 bank 155010
bank(dis cheq) dis allowed 4560
int charged bad debts 2800
bank 90 setoff/contra 1300
30.4 Bal c/d 200
30.4 bal c/d 15500
179290 179290
1.5.15 Bal b/d 15500 1.5.15 Bal b/d 200

Total sales= credit sales + cash Sales

165600 + 44400 = 210000

mark up=1/2 calculated on COS

margin =1/3 clculated on sales 210000*1/3= 70000

Cost of sales= sales -gross profit cos

210000- 70000 = 140000

purchases = cos+ cl inventory -op inventory

140000 +28800 -21600 = 147200