Mekka Hypermarket on January 1st, 2020, sold rice product on account to Al Karama shop for RO 3,000. The sales term is 3% on 45 days. On January 31, Al Karama shop informed Mekka that they have financial issue and cannot pay 50% of the amount, so Mekka assume that 50% of the amount is uncollectable. Prepare the journal entry to record this transaction on the books of Mekka Hypermarket on the 31st of January: Select one: O a. Account Receivable 3000 Sales Revenue 3000 O b. Bad Debts Expenses 1500 Allowances for Doubtful 1500 Account O c. Interest Receivable 1500 Account Receivable 1500

Mekka Hypermarket on January 1st, 2020, sold rice product on account to Al Karama shop for RO 3,000. The sales term is 3% on 45 days. On January 31, Al Karama shop informed Mekka that they have financial issue and cannot pay 50% of the amount, so Mekka assume that 50% of the amount is uncollectable. Prepare the journal entry to record this transaction on the books of Mekka Hypermarket on the 31st of January: Select one: O a. Account Receivable 3000 Sales Revenue 3000 O b. Bad Debts Expenses 1500 Allowances for Doubtful 1500 Account O c. Interest Receivable 1500 Account Receivable 1500

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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