O-LevelAccountingSources and recording of data7707/12 · Oct/Nov 2013 · Q51 Mark

Ashraf owed Yasmin $2000 for goods bought on credit. After deducting cash discount of 2½% Ashraf paid Yasmin the balance owing by cheque. Which entries record this in Ashraf's books? account to be debited $ account to be credited $

Abank 1950 discount allowed 50 Yasmin 2000

BYasmin 2000 bank 1950 discount allowed 50

Cbank 1950 discount received 50 Yasmin 2000

DYasmin 2000 bank 1950 discount received 50

✓ Correct answer

D: Yasmin 2000 bank 1950 discount received 50

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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 2013 Paper 1 Variant 2, question 5.

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