A-LevelAccountingDouble Entry BookkeepingOct/Nov 2024Paper 1 Q31 Mark
Peter is a credit customer of John. He settles his account of $200. He pays by cheque and receives a cash discount of 5%. Which entries are made in John's books of account to record this transaction?
Aaccount to be debited: bank $190, discount allowed $10; account to be credited: Peter $200
Baccount to be debited: bank $190, discount received $10; account to be credited: Peter $200
Caccount to be debited: Peter $200; account to be credited: bank $190, discount allowed $10
Daccount to be debited: Peter $200; account to be credited: bank $190, discount received $10
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of double entry bookkeeping within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
🔒
Unlock the Examiner's Answer
Sign up for free to reveal the correct answer, the official mark scheme breakdown, and the examiner trap analysis for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep