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O-LevelAccountingSources and recording of data7707/11 · May/June 2014 · Q91 Mark

Ali allows Yasmin a trade discount of 20%. Yasmin returned goods to Ali with a list price of $980. How is this recorded in Ali's books?

Adebit: sales returns $784, credit: Yasmin $784
Bdebit: sales returns $980, credit: Yasmin $980
Cdebit: Yasmin $784, credit: sales returns $784
Ddebit: Yasmin $980, credit: sales returns $980

✓ Correct answer

A: debit: sales returns $784, credit: Yasmin $784

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About this question

Topic
Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2014 Paper 1 Variant 1, question 9.

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