Dev owns a business selling furniture.

The following transactions took place during August 2020.

Transaction | Date | Details | $
--- | --- | --- | ---
1 | August 9 | Sold goods on credit to Petra | 675
2 | 14 | Petra returned damaged goods to Dev | 120
3 | 23 | Banked cash sales | 412
4 | 29 | Petra settled her outstanding balance at 1 August by credit transfer after taking a cash discount of 5%

On 1 August 2020, the balance on credit customer Petra's sales ledger account was $940 debit.

REQUIRED

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 20 marks.

Q: Which exam paper is this question from?

This question appeared in the Cambridge O-Level Accounting Oct/Nov 2020 examination, Paper 2 Variant 2 (7707_w20_qp_22.pdf).

Question

Dev owns a business selling furniture.

The following transactions took place during August 2020.

Transaction | Date | Details | $
--- | --- | --- | ---
1 | August 9 | Sold goods on credit to Petra | 675
2 | 14 | Petra returned damaged goods to Dev | 120
3 | 23 | Banked cash sales | 412
4 | 29 | Petra settled her outstanding balance at 1 August by credit transfer after taking a cash discount of 5%

On 1 August 2020, the balance on credit customer Petra's sales ledger account was $940 debit.

REQUIRED

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