The following figures have been supplied by the accountant of Bushey Electronics Limited for the month of April 2005:

The debit side of the Sales Ledger Control Account includes the opening debit balance and credit sales.

$$\begin{align*} \text{Opening Debit Balance (April 1, 2005)} & = \$15,280 \\ \text{Sales to debtors (Credit Sales)} & = \$12,670 \\ \text{Total Debits} & = \$15,280 + \$12,670 = \$27,950 \end{align*}$$

The credit side includes the opening credit balance (for overpayments), cash received, discounts, returns, bad debts, cash refunds, and contra entries.

$$\begin{align*} \text{Opening Credit Balance (April 1, 2005)} & = \$760 \\ \text{Cash received from debtors (Note 1)} & = \$9,830 \\ \text{Discounts granted to customers} & = \$530 \\ \text{Returns Inwards} & = \$1,050 \\ \text{Cash refund (Note 2)} & = \$240 \\ \text{Amounts written off as bad} & = \$1,400 \\ \text{Set-off (R. Hoyte, Note 3)} & = \$960 \\ \text{Total Credits} & = \$760 + \$9,830 + \$530 + \$1,050 + \$240 + \$1,400 + \$960 = \$14,770 \end{align*}$$

Since total debits are greater than total credits, the closing balance is a debit balance.

$$\begin{align*} \text{Closing Debit Balance} & = \text{Total Debits} - \text{Total Credits} \\ & = \$27,950 - \$14,770 \\ & = \boxed{\mathbf{\$13,180 \text{ (Debit)}}} \end{align*}$$

There is no closing credit balance for the Sales Ledger Control Account.

Purchases Ledger Control Account (Trade Creditors)

The credit side of the Purchases Ledger Control Account includes the opening credit balance, credit purchases, and interest charged by suppliers.

$$\begin{align*} \text{Opening Credit Balance (April 1, 2005)} & = \$8,350 \\ \text{Credit Purchases} & = \$24,910 \\ \text{Interest charged by supplier for late payment} & = \$25 \\ \text{Total Credits} & = \$8,350 + \$24,910 + \$25 = \$33,285 \end{align*}$$

The debit side includes payments to creditors, returns to suppliers, discounts received, and contra entries.

$$\begin{align*} \text{Payments for credit purchases} & = \$19,830 \\ \text{Returns to suppliers} & = \$720 \\ \text{Discounts Received} & = \$960 \\ \text{Set-off (R. Hoyte, Note 3)} & = \$960 \\ \text{Total Transaction Debits} & = \$19,830 + \$720 + \$960 + \$960 = \$22,470 \end{align*}$$

The problem states a "Creditors Ledger, Debit Balance as at April 30, 2005" of $250. This is a closing debit balance. To find the closing credit balance, we balance the account:

$$\begin{align*} \text{Total Credits} & = \text{Total Transaction Debits} + \text{Closing Debit Balance} + \text{Closing Credit Balance} \\ \$33,285 & = \$22,470 + \$250 + \text{Closing Credit Balance} \\ \$33,285 & = \$22,720 + \text{Closing Credit Balance} \\ \text{Closing Credit Balance} & = \$33,285 - \$22,720 \\ & = \boxed{\mathbf{\$10,565 \text{ (Credit)}}} \end{align*}$$

The closing balances for the Purchases Ledger Control Account are:

• Closing Credit Balance: \mathbf{\10,565}$
• Closing Debit Balance: \mathbf{\250}$