Reconcile the creditor journal to the supplier statement. ABC Supplies DocketDet
ID: 2545088 • Letter: R
Question
Reconcile the creditor journal to the supplier statement. ABC Supplies DocketDetails Debit Credit Date 1 April 14 April 34598 PVC Pipe-ABC Supplies 15 Apri 34604 TPieces-ABC Supplies 18 Apri 34629 50 mm Pipe-ABC Supplies 27 Apri 34687 100 mm Pipe-ABC Supplies 29 April 987652 Cheque-ABC Supplies 29 April Balance 987.65 1.406.63 1.434.18 1.482.48 1.527.48 539.83 Opening Balance 418.98 27.55 48.30 45.00 987.65 Closing Balance The statement from the ABC Supplies for April Statement ABC Supplies cnr Main and Side Street Adelaide ph 8123 4567 ABN 88 999 000 222 Period ended: 29 April 1 April 4 April 14 Apri 34598 PVC Pipe 15 April 34604 T Pieces 18 Ap 34629 50 mm Pipe 27 Apri 34687 100 mm Pipe 29 April Opening Balance 1,244.55 987.65 1,406.63 1,434.18 1,482.48 1,527.48 1,527.48 Payment received 256.90 418.98 27.55 48.30 45.00 Closing Balance 1 How much was paid on the March account? 2 What is the difference between the statement closing balance and the journal balance? 3 How can you explain the difference? (One sentence)Explanation / Answer
1. Payment of $987.65 is for March account only.
2. Difference is payment of $987.65 made on 29th April, which was received by ABC in next month and hence accounted by them in May.
3. Difference is Payment made by company however, in transit for ABC.
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