O-LevelAccountingAccounting procedures7707/12 · Oct/Nov 2024 · Q131 Mark

A summary of Jim's cash book for the year included the following: total cheques paid to suppliers $3750 total discount received $65 Which entries are made in his purchases ledger control account?

Adebit: bank $3750, credit: discount received $65

Bdebit: bank $3750, discount received $65

Ccredit: bank $3750, discount received $65

Ddebit: discount received $65, credit: bank $3750

✓ Correct answer

B: debit: bank $3750, discount received $65

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2024 Paper 1 Variant 2, question 13.

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