Your inexperienced colleague, Paul has attempted to extract and total the individual balances in the receivables ledger. He provides you with the following listing which he has prepared.
| A company | 23,400 |
| B company | 7,000 |
| C company | 3,600 |
| D company | 4,600 |
| E company | 2,720 |
| F company | 4,480 |
| Total | 45,800 |
Subsequent to the drawing up of the list, the following errors have so far been found.
1. A sales invoice for $23 sent to C company had been correctly entered in the day book but had not been posted to the account for C company in the receivables ledger.
2. One of the errors made by Paul was to omit the $200 balance of G company from the list.
3. A credit note for $285 sent to B company had been correctly entered in the day book but was entered in the account in the receivables ledger as $228.
What is the revised balance of the receivables ledger after correcting these errors?
SUGGESTED SOLUTION
| $ | |
| Balance | 45,800 |
| Plus C company invoice | 23 |
| Plus G company omission | 200 |
| Less B company credit note error | (57) |
| Revised balance of the receivables ledger | 45,966 |
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2015 ACCA F3 Receivables Ledger