Africa Traders is in the business of selling computer equipment. On 8 October 2020, Africa Traders sold computerequipment for R80 000 on credit to SA Traders, a customer of Africa Traders. Africa Traders is not a registered VATvendor.Which account will be debited, and which account will be credited in the general ledger of Africa Traders?Select one:a. Debit the Trade receivables control account with R80 000, and credit the Sales account with R80 000.O b. Debit the Bank account with R80 000, and credit the Sales account with R80 000.O c. Debit the Sales account with R80 000, and credit the Trade receivables control account with R80 000.O d. Debit the Sales account with R80 000, and credit the Bank account with R80 000.

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Description: Africa Traders is in the business of selling computer equipment. On 8 October 2020, Africa Traders sold computerequipment for R80 000 on credit to SA Traders, a customer of Africa Traders. Africa Traders is not a registered VATvendor.Which account w

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Africa Traders is in the business of selling computer equipment. On 8 October 2020, Africa Traders sold computer equipment for R80 000 on credit to SA Traders, a customer of Africa Traders. Africa Traders is not a registered VAT vendor. Which account will be debited, and which account will be credited in the general ledger of Africa Traders? Select one: O a. Debit the Trade receivables control account with R80 000, and credit the Sales account with R80 000. O b. Debit the Bank account with R80 000, and credit the Sales account with R80 000. O . Debit the Sales account with R80 000, and credit the Trade receivables control account with R80 000. O d. Debit the Sales account with R80 000, and credit the Bank account with R80 000.

Africa Traders is in the business of selling computer equipment. On 8 October 2020, Africa Traders sold computer equipment for R80 000 on credit to SA Traders, a customer of Africa Traders. Africa Traders is not a registered VAT vendor. Which account will be debited, and which account will be credited in the general ledger of Africa Traders? Select one: O a. Debit the Trade receivables control account with R80 000, and credit the Sales account with R80 000. O b. Debit the Bank account with R80 000, and credit the Sales account with R80 000. O . Debit the Sales account with R80 000, and credit the Trade receivables control account with R80 000. O d. Debit the Sales account with R80 000, and credit the Bank account with R80 000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Africa Traders is in the business of replacing damaged windscreens of vehicles. On 9 October 2020, Africa Traders replaced damaged windscreens of vehicles for R90 000 on credit for SA Traders, a customer of Africa Traders. Africa Traders is not a registered VAT vendor. Which account will be debited, and which account will be credited in the general ledger of Africa Traders? Select one: a. Debit the Services rendered account with R90 000, and credit the Bank account with R90 000. b. Debit the Services rendered account with R90 000, and credit the Trade receivables control account with R90 000. c. Debit the Trade receivables control account with R90 000, and credit the Services rendered account with R90 000. d. Debit the Bank account with R90 000, and credit the Services rendered account with R90 000.
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