Anonymous
Apr 21
A credit note issued for R28 was not taken into account at all. Where should the R28 go between the debtors control account or list and it should go as a Cr or Dr?
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ChatGPT
Apr 21
The R28 credit note should be recorded in the debtors control account as a credit (Cr). This will reduce the amount owed by the debtor by R28.
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Google Gemini AI
Apr 21
Debtors Control Account:
- Dr (Debit) R28
Reason:
A credit note is a document issued by a creditor (in this case, the company) to a debtor (the customer). It reduces the amount owed by the debtor. Therefore, when a credit note is not taken into account, the debtors control account will be overstated by the amount of the credit note (R28). To correct this error, the amount of the credit note should be debited to the debtors control account.
- Dr (Debit) R28
Reason:
A credit note is a document issued by a creditor (in this case, the company) to a debtor (the customer). It reduces the amount owed by the debtor. Therefore, when a credit note is not taken into account, the debtors control account will be overstated by the amount of the credit note (R28). To correct this error, the amount of the credit note should be debited to the debtors control account.
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