O-LevelAccountingSources and recording of data7707/11 · Oct/Nov 2012 · Q41 Mark
Karim issued an invoice, a credit note and a receipt. What has happened?
AKarim purchased goods and paid the supplier immediately.
BKarim purchased goods on credit, made returns to the supplier and paid the balance due.
CKarim sold goods and received immediate payment from the customer.
DKarim sold goods on credit, received returns from the customer and received the balance due.
✓ Correct answer
D: Karim sold goods on credit, received returns from the customer and received the balance due.
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