I n t e r a c t I v e t e X t foundations in Accountancy/ acca financial accounting (ffa/FA) bpp learning Media is an acca approved Content Provider

PART C: THE USE OF DOUBLE-ENTRY AND ACCOUNTING SYSTEMS 

 

84

 

COOK & CO 

 

 

 

 

A/c no: PL 31 

 

$ 

 

$ 

17.3.X8 Credit 

note 

received 

 

100.00 16.3.X8

 

 Balance b/f 

415.00

 

 Balance 

c/d 

 

315.00  

 

            

 

 

415.00  

 

415.00

 

 

12.3.X8 Balance 

b/d 

 

315.00

The business now owes Cook & Co the amount of the invoice received on 15 March 20X8. 

Note that in a manual system, the account is not 'balanced off' after each transaction. It is more likely to 

be done once a month. However, we have done this to show the effect of the transactions. 

 

 

 

 

Two of the requirements of performance objective PO6, 'Record and process transactions and events' 

are:  

 

Implement or effectively operate appropriate systems to record accounting data and ensure 

effective credit and vendor management and control 

 

Verify, input, and process routine financial accounting data within the accounting system 

This chapter of the Interactive Text will help you fulfil these requirements.

BPP Tutor Toolkit Copy

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CHAPTER 5  

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  LEDGER ACCOUNTS AND DOUBLE ENTRY