One of the common questions that come up and is likely to appear on the end of year Accounting Exam, is completing the Account Reconstructions. So this is just something that outlines the main Debit and Credit Entries for the main Ledger Accounts (Debtors Control, Stock Control, Creditors Control and GST Clearing), but there are more Debit and Credit Entries that can go into both. PLEASE NOTE: The words in the Brackets are not necessary to be memorised, they are there to show you what that transaction is. Also, take note of the Arrows and the "OR", because you can only have one or the other, not both. They are on the same line so that you can see this. If you want blank Templates to print off and do them yourself, feel free to PM me on the Forum. :) Enjoy!
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