50.Mr. Aslam purchased goods on credit but after two days he returned half of them. The Goods returned by customer will be debited to which account?Required to answer. Single choice.

(2 Points)

Purchases A/C

Return outward

Customers A/C

Purchase Return

51.Dr: Cash Cr: Bad debts Recovery Which of the following best explains the above accounting entryRequired to answer. Single choice.

(2 Points)

Accounting entry for recovery of Bad debts previously written off

Accounting entry for Increase in bad debts

Accounting entry for decrease in bad debts

Closing entry for Irrecoverable Debt/Bad Debts

52.Correct entry for purchase of Furniture from X&X Ltd worth 120,000, 50% of the payment was made on cash , while remaining will be paid after 90 days.Required to answer. Single choice.

(3 Points)

DR- Office furniture 120,000, Cr- X&X Ltd 60,000, Cr- Cash 60,000

DR- Office furniture 120,000, Cr- X&X Ltd 120,000

DR- Office furniture 120,000, Cr- Cash 120,000

None of the above

DR- Purchases 120,000, Cr- Cash 120,000

DR- Office furniture 120,000, Cr- Cash 120,000

DR- Purchases 120,000, Cr- X&X Ltd 120,000

JUST GIVE THE CORRECT ANSWER EXPLANATION IS NOT NEEDED.