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The financial year of Ali & Co is closed on June 30, 2007. Data regarding Ali & Co is

given below:

Rs.

Opening balance

Debtors 75,000

Creditors 125,000

Closing balance

Debtors 100,000

Creditors 150,000

Sales

Cash 100,000

Credit 130,000

Purchases

Cash 80,000

Credit 100,000

Purchase returns (From credit purchases) 5,000

Receipts from debtors ? 88500

Payments to creditors ? 65000

Discount allowed 2,000

Discount received 5,000

Bad debts written off 13,000

Increase in provision for doubtful debts 2,500

Required:

Prepare Debtors control account and Creditors control account.

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