2020 JYSS 3E POA EOY P2 Q4
4 Fun Mart is in the business of selling tables and chairs, A 10% trade discount is given on all sales to Jason. The following balances are provided on 1 April 2020.
The following transactions took place:
2020 | |
Apr 2 | Bought chairs costing $4 500 and paid by cheque. |
6 | Sold tables costing $500 to Jason on credit, at a list price of $1 200. |
17 | Jason returned damaged tables that were sold on April 6 with a list price of $600. |
22 | Received $7 100 by cheque from Jason in full settlement of the amount owed on this date. |
27 | Paid by cheque, $900, to a credit supplier, Nimmi. |
28 | The cheque received on April 22 was dishonoured. |
REQUIRED
Prepare the following:
[5]
a. Cash at bank account
[5]
b. Jason’s account
[2]
c. Discount allowed account
[TOTAL 12]