O-LevelAccountingSources and recording of data7707/12 · Oct/Nov 2017 · Q71 Mark

Mark sold goods on credit to Paul for $5000. Paul returned goods costing $200 to Mark. What were the balances in Paul's ledger accounts after these transactions? | | purchases account $ | purchases returns account $ | Mark account $ | |---|---|---|---| | A | 4800 credit | 200 credit | 5000 debit | | B | 4800 debit | 200 debit | 5000 credit | | C | 5000 credit | 200 debit | 4800 debit | | D | 5000 debit | 200 credit | 4800 credit |

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A4800 credit 200 credit 5000 debit

B4800 debit 200 debit 5000 credit

C5000 credit 200 debit 4800 debit

D5000 debit 200 credit 4800 credit

✓ Correct answer

D: 5000 debit 200 credit 4800 credit

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Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2017 Paper 1 Variant 2, question 7.

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