An inexperienced bookkeeper has drawn up the following receivables ledger control account:
RECEIVABLES????? ?LEDGER????????? CONTROL ACCOUNT
??????????????????????????????? ???????????????????? ?? ?$??????????????????????????????????????????????????????????????????????????????? ??$?
Opening balance??????????????????????????? ?180,000??????????????????Credit sales??????? ?????????????????????? ?190,000
Cash from credit customers??????????? ?228,000??????????? ?Irrecoverable debts written off???????? ?1,500
Sales returns??????????????????????????????????? ?8,000???????????????? Contras against payables???????????????2,400
Cash refunds to credit customers???? 3,300?????????????? Closing balance (balancing figure)???229,60
0Discount allowed?????????????????????????? ? 4,200??????????????
?????????????????????????????????????????????????????? ??423,500?????????????????????????????????????????????????????????????????? ?423,500
What should the closing balance be after correcting the errors made in preparing the account?