O-LevelAccountingSources and recording of data7707/13 · Oct/Nov 2023 · Q61 Mark

A customer paid $15600 to a supplier after receiving a 21% cash discount and a trade discount of 20%. What was the amount of the invoice entered in the purchases journal?

A$12480

B$15600

C$16000

D$20000

✓ Correct answer

C: $16000

Oracle Prep sorts past-paper questions by topic, so you can drill Sources and recording of data and see which topics are most likely to come up next.

Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2023 Paper 1 Variant 3, question 6.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Which is recorded in the sales ledger?

Which document does a trader send to a credit customer to summarise the transactions for the month?

Which is entered in a business's general journal?

A partner had a debit balance on his current account of $1600 on 1 January 2009. On 31 December 2009 the following am…

A sports club had the following assets and liabilities. $ trade payables (creditors) for refreshments 750 bank 1870 d…

A sports club was formed on 1 January 2009. During the year ended 31 December 2009 the club purchased equipment costi…