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?
............. accounts cover various income and expense accounts, e.g. sales, wages, etc.
.................. account is used for regular banking and withdrawal of money.
In the transaction: ‘Cash sale £1,410, in which £410 was received in cash’. What entries in the Cash book are done?
From Sales Day book, detail is transferred promptly to .......... account in Sales Ledger
The invoice gives details of .................
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?
................. is indicated in the invoice and recorded in the accounts.
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?
T-type Ledger accounts has the following format:
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