1.The following partial transactions were completed byMCO Enterprise during April 2020.MCO Enterprise, owned by Puan Adibah, uses the perpetual inventory system.

April 1

Purchased RM95,000 of merchandise on account from manufacturer,GR8Bhd, terms FOB shipping point, 4/10, n/30. Prepaid freight of RM600 was added to the invoice.

6

Returned RM5,000 of the merchandise purchased on April 1.

9

Paid toGR8Bhdfor the purchase on April 1less the return and discount.

18

Sold merchandise on account toPerniagaan Mesra, RM14,000, terms FOB destination, 2/10, n/30.The cost of merchandise sold was RM7,000.

21

Paid transportation costs of RM200 for delivery of merchandise sold to Perniagaan Mesra on April 18.

27

Received payment fromPerniagaan Mesrafor the sale on April 18.

Required:

a)Compute the amount of purchase discount received from GR8 Bhd on April 9, 2020.

b)Journalise the entries to record the above transactions of MCO Enterprise for April 2020, using the full cost approach.

c)On April 30, 2020, the balances of the accounts appearing in the ledger of MCO Enterprise are as follows:

Account

RM

Account

RM

Accumulated Depreciation - Building

620,000

Merchandise Inventory

245,000

Adibah, Capital

1,640,000

Notes Payable

83,350

Adibah, Drawing

220,000

Office Supplies

18,000

Administrative Expenses

135,000

Salaries Payable

13,000

Building

2,900,000

Sales

1,602,500

Cash

165,000

Selling Expenses

178,750

Cost of Merchandise Sold

950,000

Store Supplies

70,000

Interest Expense

2,500

You need to prepare Multiple-Step Statement of Statement of Profit or Loss and Other Comprehensive Income for the year ended April 30, 2020 for MCO Enterprise.