Marlin bought goods from Nadal for RM16,000. Nadal draws a bill on 1.1.202: for 3 months which was accepted by Marlin for this purpose. On 1.3.2021, Marlin arranged to retire the bill at a rebate of 15% p.a. Show the entries in the books of Nadal.

Marlin bought goods from Nadal for RM16,000. Nadal draws a bill on 1.1.202: for 3 months which was accepted by Marlin for this purpose. On 1.3.2021, Marlin arranged to retire the bill at a rebate of 15% p.a. Show the entries in the books of Nadal.

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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Question

Marlin bought goods from Nadal for RM16,000. Nadal draws a bill on 1.1.2021
for 3 months which was accepted by Marlin for this purpose.
On 1.3.2021, Marlin arranged to retire the bill at a rebate of 15% p.a.
Show the entries in the books of Nadal.

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