Ned receives his monthly Telstra telephone bill on 25June 2020. Assume that Ned usesthe telephone 100% for business purposes. The amount of $290 is due for payment on 15 July2020. Ned pays his telephone bill on 10July 2020. 

On what datehas Ned incurred the telephone expense?

(b)        Daisy works as a practising accountant in her own practice in Spring Hill. On 30 June 2020, she receives tax invoices for a number of business-related expenses, including:

•  telephone of $450;
• stationery of $170;
•  motor vehicle costs (consisting of fuel and oil) of $620; and
• professional indemnity insurance premium renewal of $3,300.

All of these expenses were paid by Daisy on 3July 2020. 

On what date has Daisy incurred each of the above expenses?

Answer rating: 100% (QA)

Ned incurred the telephone expense on the date when the bill was issue... View the full answer