O-LevelAccountingSources and recording of data7707/11 · May/June 2023 · Q51 Mark
The following account appeared in the books of Abdul. Hanif account 2023 $ Jan 18 returns 100 31 bank 392 discount 8 balance c/d 150 650 2023 $ Jan 1 balance b/d 400 4 purchases 250 650 Which statement is correct?
AOn 1 January, Abdul owed Hanif $400.
BOn 4 January, Hanif purchased goods, $250, from Abdul.
COn 31 January, Abdul allowed Hanif $8 trade discount.
DOn 31 January, Hanif owed Abdul $150.
✓ Correct answer
A: On 1 January, Abdul owed Hanif $400.
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