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Q1)
Look at the accounts below and enter the following transaction:
We pay Abe books the amount owing on
28
May
We pay by cheque and they give us a discount of
5
%
Enter the discount transaction first followed by the payment transaction.
Bank
£
£
1
Capital
50000
14
Abe Books
250
£
£
10
Returns Out
80
2
Purchases
350
14
Bank
5
Purchases
350
12
Purchases
480
18
Purchases
250
Discount Received
£
£
Q2)
Look at the accounts below and enter the following transaction:
We pay Harper books the amount owing
on
30
May
We pay by cheque and they give us a discount of
10
%
Enter the discount transaction first followed by the payment transaction.
Bank
£
£
1
Capital
50000
14
Harper
340
£
£
10
Returns Out
80
2
Purchases
780
14
Bank
5
Purchases
850
12
Purchases
500
18
Purchases
2300
Discount Received
£
£
Q3)
Look at the accounts below and enter the following transaction:
A debtor pays the ammount owed on
30
May
in cash.
Since payment is in cash, we offer her a discount on the amount owing:
5
%
Enter the discount transaction first followed by the payment transaction.
Cash
£
£
17
A Rand
150
27
A Rand
120
A Rand
£
£
4
Sales
240
12
Returns In
50
8
Sales
320
17
Cash
150
15
Sales
180
24
Returns In
40
20
Sales
40
27
Cash
120
21
Sales
200
Discount Allowed
£
£
Q4)
Look at the accounts below and enter the following transaction:
A debtor pays the ammount owed on
30
May
in cash.
Since payment is in cash, we offer him a discount of
£10
Enter the discount transaction first followed by the payment transaction.
Cash
£
£
27
R Deckard
50
R Deckard
£
£
4
Sales
45
12
Returns In
20
8
Sales
75
24
Returns In
40
15
Sales
25
27
Cash
50
20
Sales
15
21
Sales
60
Discount Allowed
£
£
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