Q1) Consider the following account:  
 
  F Ryder  
  May     May      
  9 Bank 350 2 Purchases 560  
  16 Bank 750 6 Purchases 800  
  17 Cash 200 7 Purchases 1340  
        12 Purchases 650  
        15 Purchases 850  
        18 Purchases 1300  
               
 
Is F Ryder a customer "c" or a supplier "s" ?  
 
What kind of account is this, asset "a" or liability "l" ?  
 
How much is owed?  
 
On 20th May a discount of 7% is given by F Ryder, how much is the discount?
 
How much must be paid to settle the bill?  
 
How is this discount described?  
 
On which side (debit or credit) must this discount be placed in the account above?
 
Q2) Consider the following account:  
 
  R Punzel  
  May     May      
  2 Sales 50 5 Cash 70  
  4 Sales 130 7 Cheque 120  
  6 Sales 270        
  8 Sales 650        
               
               
               
 
Is R Punzel a customer "c" or a supplier "s" ?  
 
What kind of account is this, asset "a" or liability "l" ?  
 
How much is owed?  
 
On 25th May a discount of 5% is given to R Punzel, how much is the discount?
 
How much must be paid to settle the bill?  
 
How is this discount described?  
 
On which side (debit or credit) must this discount be placed in the account above?