On 5 July 2025 a shop owner received $10 cash from a customer who was buying a bar of chocolate. The chocolate bar was priced $6.50 and the owner provided the customer with a 10% discount on the price of the chocolate bar as part of his weekly promotions. The customer was refunded $4.15 for the $10 he gave the shop owner.

 

Show this transaction in General Journal Entry format from the perspective of:

 (i) The Shop Owner

(ii) The Customer

Answer rating: 100% (QA)

General Journal Entries Date July 5 2025 Currency USD Shop Owners Perspective Account Debit Credit D... View the full answer