O-LevelAccountingSources and recording of data7707/11 · Oct/Nov 2019 · Q91 Mark

The following account appeared in Amna's ledger. Syed account date details debit $ credit $ balance $ Sept 1 balance b/d 400 dr 14 sales 600 1000 dr 26 bank 390 610 dr 26 discount 10 600 dr Which statement is correct?

AOn 1 September Amna owed Syed $400.

BOn 14 September Syed purchased goods, $600, on credit from Amna.

COn 26 September Amna paid Syed $390 by cheque.

DOn 26 September Syed allowed $10 cash discount to Amna.

✓ Correct answer

B: On 14 September Syed purchased goods, $600, on credit from Amna.

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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 2019 Paper 1 Variant 1, question 9.

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