2. A company purchased RM4,500 of inventory on I May with credit terms of 2/10, n/30. On 6 May, it returned RM250 of that inventory. On 8 May, it paid the amount owing to the supplier, The cash paid on 8 May is:
   1. RM3,825.
   2. RM4,165.
   3. RM4,250.
   4. RM4,500.

3. A 90-day, 12% note for RMIO,OOO dated I May 2020, is received from a customer on account, The maturity value of the note is:
   1. RMI 1,200 B. RMlO,300

C. RMIO,OOO D. RM9,550

7. Based on the following data for the year what is the accounts receivable turnover?

Net credit sales		500,000
Cost of goods sold		300,000
Account receivable, be uinning of the	ear	45,000
Account receivable, end of the ear		35,000
Inventor , be innin of the ear		90,000
Inventory, end of the ear		110,000

3. 1. 5.0 B. 11.1 c, 12.5
4. 14.3

8. The journal entry a company records for the payment of interest, interest expense and amortization of premium on bond is:

A, Debit Interest Expense, credit Cash and Premium on Bond. B. Debit Interest Expense and Premium on Bond, credit Cash.

3. Debit Interest Expense and credit Cash.
4. Debit Interest Expense, credit Interest Payable and Premium on Bond.