O-LevelAccountingSources and recording of data7707/12 · Oct/Nov 2012 · Q91 Mark

The following account appeared in Amna's ledger. Syed account date details debit $ credit $ balance $ 2012 Sept 1 Balance b/d 400 dr 14 Sales 600 1000 dr 26 Bank 390 610 dr 26 Discount 10 600 dr Which statement is true?

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AAmna owed Syed $400 on 1 September.

BAmna paid Syed $390 by cheque on 26 September.

CSyed allowed $10 cash discount to Amna on 26 September.

DSyed purchased goods, $600, on credit from Amna on 14 September.

✓ Correct answer

D: Syed purchased goods, $600, on credit from Amna on 14 September.

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Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2012 Paper 1 Variant 2, question 9.

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