1.5 In the general the “Details"column is used for: (a) The name of the debtor; (b) The name of the creditor; (c) The name of the contra account where applicable; (d) The name of the owner. Q.1.6 Sold goods on credit to Debtor A Jones for R15 000 (VAT exclusive) less 7.5% trade discount. Which amount will be posted to the sales account? (a) R15 000; (b) R13 875; (c) R12 509; (d) R7 500. Q.1.7 Which one of the following source documents will be used to make an entry in the debtors allowance journal ? (a) Original credit note; (b) Original credit invoice; (c) Duplicate credit invoice; (d) Duplicate credit note.
1.5 In the general the “Details"column is used for:
(a) The name of the debtor;
(b) The name of the creditor;
(c) The name of the contra account where applicable;
(d) The name of the owner.
Q.1.6 Sold goods on credit to Debtor A Jones for R15 000 (VAT exclusive) less 7.5% trade discount. Which amount will be posted to the sales account?
(a) R15 000;
(b) R13 875;
(c) R12 509;
(d) R7 500.
Q.1.7 Which one of the following source documents will be used to make an entry in the debtors allowance journal ?
(a) Original credit note;
(b) Original credit invoice;
(c) Duplicate credit invoice;
(d) Duplicate credit note.
Details column in general is used to the name of the account where entry will be posted.
The sales value is always posted after deducting trade discount.
The debtor allowance journal is record transaction where goods are returned by the debtors.
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