O-LevelAccountingAccounting procedures7707/12 · May/June 2013 · Q81 Mark

The following partly-completed account appeared in Edward's sales ledger. Ann account 2013 debit $ credit $ balance $ Jan 4 sales 21500 11 sales returns 500 On 30 January, Ann paid $10000 by cheque and was given a cash discount of $200. Which is correct on 31 January?

AAnn owes Edward $10800.

BAnn owes Edward $11200.

CEdward owes Ann $10800.

DEdward owes Ann $11200.

✓ Correct answer

A: Ann owes Edward $10800.

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2013 Paper 1 Variant 2, question 8.

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