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Cheung has received a cheque for $1540 from Raju in full settlement of a debt of $1700. How should this

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Cheung has received a cheque for $1540 from Raju in full settlement of a debt of $1700. 

How should this be recorded in Cheung's books of account?

Transcribed Image Text:

Debit A Bank B Bank C Bank Discounts Allowed D Bank Zinid noftr$hine Credit 1540 Raju 1700 Raju 1540 Raju 160 2000 Raju Discounts Received 1540 1700 1700 1540 160

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To record Cheung receiving a cheque for 1 540 from Raju in full settlement of a …View the full answer


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Accounting A Level And AS Level

Accounting A Level And AS Level

ISBN: 9780521539937

1st Edition

Authors: Harold Randall

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Question Details
Chapter # 3- Books of prime (or original) entry
Section: MULTIPLE-CHOICE QUESTIONS
Problem: 4
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Question Posted: August 27, 2023 09:16:57
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