Streak had the following transactions in March. Required Post the transactions listed above in Streak's books in
Question:
Streak had the following transactions in March.
Required
Post the transactions listed above in Streak's books in good form.
Transcribed Image Text:
Mar 1 Sold goods to Blignaut for $2500 less trade discount of 10%, and allowed. I allowed him cash discount of 4%. Station of less trade discou 4 Sold goods to Ebrahim for $4000 less trade discount of 15%, and allowed him cash discount of 5%. 6 Ebrahim returned goods which had cost him $200. 8 Sold goods to Friend for $3200 less trade discount of 20%, and allowed him cash discount of 5%. 12 Sold goods to Flower for $2000 less trade discount of 10%, and e allowed him cash discount of 4%. 14 Flower returned goods which had cost him $350. 15 Blignaut, Ebrahim, Friend and Flower settled their accounts by cheque, each taking advantage of cash discount.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (4 reviews)
Date Transaction Debit Credit Mar 1 Sold goods to Blignaut for 2500 less trade discount of 10 and al...View the full answer
Answered By
Akash M Rathod
I have been utilized by educators and students alike to provide individualized assistance with everything from grammar and vocabulary to complex problem-solving in various academic subjects. I can provide explanations, examples, and practice exercises tailored to each student's individual needs, helping them to grasp difficult concepts and improve their skills.
My tutoring sessions are interactive and engaging, utilizing a variety of tools and resources to keep learners motivated and focused. Whether a student needs help with homework, test preparation, or simply wants to improve their skills in a particular subject area, I am equipped to provide the support and guidance they need to succeed.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Why might a supervisor be motivated to perceive a subordinate's performance as being poor when it really is not?
-
The law firm of abc is considering investing in complete small business computer system. The initial investment will be $35,000, the computer is in the 5-year straight-line category, and the firm's...
-
Carnes Inc. reported the following information in its latest annual report: Required Determine which method of accounting for bad debts Carnes uses, record all journal entries associated with the...
-
Suppose Emory rejects the lease we analyzed, and the lessor agrees to lower the lease rate to $11,700 per year. Does this change make the lease attractive?
-
On the next page are balance sheet and income statement data for Howard Bannister Company. Note: For the balance sheet data, the end-of-year information is in the left column. Additional information...
-
12.Indicate, by clicking on the relevant boxes, whether the following statements are true or false?
-
Shirley bought goods from Corrine. The goods had a list price of $800. Corrine allowed Shirley trade discount of 20% and cash discount of 5%. In Corrine's books, which entries record the cheque she...
-
Kristal bought goods on credit from Prisca. The goods had a list price of $1000 but Prisca allowed Kristal trade discount of 10% and cash discount of 4%. How much did Kristal have to pay Prisca? A....
-
Samson Building, Ltd., is also constructing an identical building for the same customer as in Problem 6 and has the following earned values and costs for the first six days: EV: 90, 88, 95, 101, 89,...
-
Introduction: (roughly one page) Start with a "Hook" to draw the reader in and then explain in broad terms how the most recent recession began. II. Consequences of great recession (roughly one page)...
-
During 2023, Gescan Electric Inc. has performed well, so the board of directors decided to pay dividends. On November 30, 2023, the company declared cash dividends of $147,000, which will be paid out...
-
Describe three types of heredity-environment correlations, and give an example of each .
-
Draw all the isomers of C5H0. Clearly show stereochemistry if stereoisomers are possible. Step 1: Start by drawing all the isomers with double bonds. . Consider constitutional isomers, then...
-
EFG declared a property dividend. The dividend consisted of 10,000 common shares of its investment in TUV Company. The shares had originally been purchased at $4 per share and had a $1 par. The value...
-
Use the side-by-side boxplots shown to answer the questions that follow. (a) To the nearest integer, what is the median of variable x? (b) To the nearest integer, what is the third quartile of...
-
The figure shows six containers, each of which is filled from the top. Assume that water is poured into the containers at a constant rate and each container is filled in 10 seconds. Assume also that...
-
Joe Tulkin owns Tulkin Wholesale Co. He sells paper, tape, file folders, and other office supplies to about 120 retailers in nearby cities. His average retailer-customer spends about $900 a month....
-
Why do many department stores seek a markup of about 30 percent when some discount houses operate on a 20 percent markup?
-
A producer distributed its riding lawn mowers through wholesalers and retailers. The retail selling price was $800, and the manufacturing cost to the company was $312. The retail markup was 35...
-
Using the following information, what is the cost to lease a car? (Assume there are no charges for damage at the end of the lease.) Security deposit Monthly lease payment Opportunity cost of security...
-
A third harmonic forms in a pipe (from a sound wave of frequency 501 Hz) which is open at one end and closed at the other end. Take the speed of sound as v=345 m s. How long is the pipe in metres?
-
The European Monetary Systems exchange rate mechanism, 1979-1998 (Explain how the exchange rates between participating countries were allowed to vary in this system, and how this was different before...
Study smarter with the SolutionInn App