Write journal entries of the following Ahmad pays rent in advance of Rs 20000. He has not shifted to the apartment yet Ferguson company pays rent expense of Rs 4000 Account receivable is Rs 15000. It is estimated that 3% of receivables are un-collectable. What is the amount of bad debt expense? Ali gives discount of Rs 500 on sale of a laptop for Rs 25000. He will receive cash after seven days. Write double entry for discount given Sales 10,000. Opening Stock 1500 Purchases 4500 Closing Stock 3000. What is the Gross Profit?
Write journal entries of the following Ahmad pays rent in advance of Rs 20000. He has not shifted to the apartment yet Ferguson company pays rent expense of Rs 4000 Account receivable is Rs 15000. It is estimated that 3% of receivables are un-collectable. What is the amount of bad debt expense? Ali gives discount of Rs 500 on sale of a laptop for Rs 25000. He will receive cash after seven days. Write double entry for discount given Sales 10,000. Opening Stock 1500 Purchases 4500 Closing Stock 3000. What is the Gross Profit?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Write
Ahmad pays rent in advance of Rs 20000. He has not shifted to the apartment yet
Ferguson company pays rent expense of Rs 4000
the amount of
Ali gives discount of Rs 500 on sale of a laptop for Rs 25000. He will receive cash after seven
days. Write double entry for discount given
Sales 10,000. Opening Stock 1500 Purchases 4500 Closing Stock 3000. What is the Gross
Profit?
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