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O-LevelAccountingAccounting procedures7707/11 · Oct/Nov 2019 · Q191 Mark

On 1 April 2018 a trader paid an annual insurance premium of $1800. Which entry will be recorded in the trader's statement of financial position at 31 December 2018?

Aother payables $450
Bother payables $1350
Cother receivables $450
Dother receivables $1350

✓ Correct answer

C: other receivables $450

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About this question

Topic
Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2019 Paper 1 Variant 1, question 19.

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