Question
A credit of $540 000, including 10% GST, was posted to the Accounts Payable Control account on the last day of the month. From which
A credit of $540 000, including 10% GST, was posted to the Accounts Payable Control account on the last day of the month. From which special journal would this posting most likely have come?
Select one:
a.
Cash receipts journal
b.
Cash payments journal
c.
Purchases journal
d.
Sales journal
e.
General journal
2. On 1 August the balance of the Accounts receivable control account for Young Rental Company was $10 500. The customers subsidiary ledger contained account balances as follows:
Anton $3 000
Carmine $4 500
Fenech $1 000
Muro $2 000
At the end of August the special journals contained the following information:
Sales journal Sales to:
Anton $ 800
Carmine $ 300
Fenech $1 200
Muro $1 900
Cash receipts journal Cash received from:
Muro $2 000
Anton $1 500
Fenech $ 500
Carmine $4 800
What is the balance of Antons account at the end of August?
Select one:
a.
$0
b.
$2,300
c.
$1,900
d.
$3,000
e.
$1,700
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