Lohit is a supplier of goods to Asanka. The following entries require recording in the books of Asanka for the month of August 2018.

August 1 Asanka owed Lohit, $90
9 Lohit supplied goods to Asanka, list price $80 less 15% discount
10 Asanka returned goods, list price $20, supplied on 9 August
15 Asanka paid $97 by cheque after deducting $3 discount

Q: What topic does this question test?

This question tests Sources and recording of data in O-Level Accounting (syllabus code 7707). It is worth 10 marks.

Q: Which exam paper is this question from?

This question appeared in the Cambridge O-Level Accounting Oct/Nov 2018 examination, Paper 2 Variant 1 (7707_w18_qp_21.pdf).

Question

Lohit is a supplier of goods to Asanka. The following entries require recording in the books of Asanka for the month of August 2018.

August 1 Asanka owed Lohit, $90
9 Lohit supplied goods to Asanka, list price $80 less 15% discount
10 Asanka returned goods, list price $20, supplied on 9 August
15 Asanka paid $97 by cheque after deducting $3 discount

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