O-LevelAccountingSources and recording of data7707/11 · May/June 2012 · Q61 Mark

Dave supplies goods to Peter on credit. On 1 April, Peter owed Dave $440. Dave sent or received the following documents in April. $ April 7 Invoice 360 12 Cheque (after deducting $11 cash discount) 429 13 Debit note 50 15 Credit note 50 What was the closing balance on the statement of account on 30 April 2011?

A$260

B$310

C$321

D$421

✓ Correct answer

B: $310

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Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2012 Paper 1 Variant 1, question 6.

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