From the transaction: ‘Credit purchase from A John at list price of £880, subject to 20% trade discount’. How much will the business record into Day book?

................. is indicated in the invoice and recorded in the accounts.

From the transaction below: ‘A Smith owed the business £1,500 for the goods sold to him on May 10, Year 2. The terms of sale allow for 3% cash discount for payment within 7 days. On May 15, Year 2, A Smith paid his debt by cheque.’

What entries in the cash book are necessary for this transaction?

The invoice gives details of .................

From Sales Day book, detail is transferred promptly to .......... account in Sales Ledger

In the transaction: ‘Cash sale £1,410, in which £410 was received in cash’. What entries in the Cash book are done?

.................. account is used for regular banking and withdrawal of money.

............. accounts cover various income and expense accounts, e.g. sales, wages, etc.

The account ‘T Dove’ has 4 transactions during May, Year 4, including 2 debit entries with £150 & £80 and 2 credit entries with £170 and £35. How much is the balance of this account at the end of May, Year 4?

.............. is used to record Cash & Bank accounts

Book-keeping entries relating to Payment to creditor are:

In the transaction ‘wages of £40 are paid in cash’, which entries are correct?

The term ‘Drawings’ means

Book-keeping entries relating to Cash Purchases are:

Book-keeping entries relating to Payment received from debtor are:

‘Balance sheet’ is .........

........... is a general term for activities of the business.

The capital equation is:

From the transaction: ‘K Devine returns to us goods with a list price of £150. No discount was previously made.’ In what accounts will it be recorded?

From the transaction below: ‘Credit sale to P Starkey at list price of £360, subject to 15% trade discount’. How much discount will be given to P Starkey?