On $1/30/2023,$ Suhail Trading Company purchased equipment at a declared price of $90,000$ riyals. The purchase contract stipulated that the

company would receive a $5\%$ discount on the declared price of the machines if payment was made within $3$ months from the date of purchase.

The payment date must not exceed $7/30/2023.$

Required:

$1-$ Proof of daily entries if payment was made on $4/20/2023$

$2$ Proof of daily entries if payment was made on $\frac{7}{25}\frac{?}{2023}$

Second$\_$branch,$\_(10)\_$marks$)$

Israa Industrial Company is subject to an income tax rate equal to $10\%$ of its taxable income. During the year

$2020,$ the company paid two payments to the Income Tax Department on $\frac{6}{30}$ and $12/31,$ each worth $30,000$ riyals, on

$2020$ Income Tax Calculation.

At the end of $2020,$ the income tax expense for $2020$ was estimated at SAR $80,000.$

Required:

Recording the daily entries necessary for the above operations in the books of Al$-$Israa Industrial Company.

What is the amount of income tax expense that will appear on the company's income statement for the year $2020?$

Explain how to show the effect of previous operations in the company's balance sheet on $12/31/2020$

Al Hayat Trading Company gives each customer one coupon for every purchase in which the customer's purchases exceed $40$

Riyals, and each customer is given a gift of a watch that costs the company $20$ riyals for every $10$ coupons submitted.

The customer has provided the company with the award. Based on the company's previous experience, it is expected that $75\%$ of the company's sales will meet the award conditons.

The owners will submit the coupons to get their special gifts.

Below is the information related to the year $2023$

$30,000$ coupons

Number of coupons issued to customers

$20,000$ coupons

Number of coupons customers applied for gifts

$3,000$ hours

Number of gifts purchased $($hours$)$

Required:

Proof of the daily entry for purchasing gifts.

Proof of the daily entry for gifts actually disbursed during the year $2023.$

Proof of the journal entry for the unspent coupons provision on $12/31/2023$