Five steps for converting incomplete records and single entry accounts to double entry system are:
i. Preparation of total debtors accounts so as to get the credit sales figure (missing).
ii. Preparation of total creditor’s accounts so as to get the credit purchases figure (missing).
iii. Preparation of total sales figures by adding both credit sales and cash sales figures together.
iv. Preparation of total purchase figure by adding the credit purchase figure missing and the cash purchase together.
v. Computation of trading account from the calculation above.
