STATEMENT RECEIVED FROM GALAXY WHOLESALERS GALAXY W…
STATEMENT RECEIVED FROM GALAXY WHOLESALERS GALAXY WHOLESALERS Account B123 STATEMENT OF ACCOUNT To: Fredrick Traders 549 Achilles Street Cape Town Date Details Debit Credit Balance May 1 Balance 57 200 7 Invoice 514 8 200 65 400 10 Debit note 204 480 64 920 14 Cheque 28 800 36 120 20 Invoice 520 5 600 41 720 23 Invoice 529 20 800 62 520 Additional information On comparing the statement and the creditor’s ledger account, the following differences have been discovered: 1 The amount of allowances on 10 May was correct on the statement. Correct this error. 2 Discount on 14 May was omitted on the statement. 3 Fredrick Traders did not buy any stock on 23 May from Galaxy Wholesalers. This invoice was incorrectly debited to the account of Fredrick Traders. 4 The statement closed on the 25th of the month.