2020 JYSS 3E POA EOY P2 Q4

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]

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