Question: 5- A merchandiser using the gross method sold goods on account to Customer A for AED 8,000 with terms of 2/10 n/30. if the payment

5- A merchandiser using the gross method sold goods on account

5- A merchandiser using the gross method sold goods on account to Customer A for AED 8,000 with terms of 2/10 n/30. if the payment is received within the discount period Acconts Receivable is decreased by AED 6- Which of the following inventory costing methods results in the highest value of the ending inventory during a period of rising inventory costs. FIFO, LIFO, Averge? The bank made an EFT payment of a telephone bill of AED 5,000. How would this 7- information be included on the bank reconciliation? Add or Subtract (Both must be correct for credit) From Bank or Book side

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