A trader who does not keep full accounting records was able to supply the following information. $ amount owed by trade receivables at 1 April 2020 3000 cheques received from trade receivables during the year 28000 cash discounts given to trade receivables 1500 amount owed by trade receivables at 31 March 2021 4200 How much were the credit sales for the year ended 31 March 2021?

Hassan maintains a sales journal, purchases journal, sales returns journal and a purchases returns journal. At the e…

Ann is a trader. On 1 April 2011 Cindy's account in Ann's ledger showed a credit balance of $520. The following trans…

Azad maintains a ledger account for general expenses. On 1 January there was a prepayment of $176. On 31 December th…

A trial balance fails to agree. The credit column totals $10 000. Two errors are then found. The sales journal has b…

Winston decides to write off a debt due to him from Leroy for goods sold on credit. How is this recorded in Winston'…

Motor repairs of $250 have been posted in error to the motor vehicles account. What is the effect on the financial s…