Question
A sole trader bought office stationery costing $2,660 on credit from a supplier. A few days later, he discovered that some of the stationery was
A sole trader bought office stationery costing $2,660 on credit from a supplier. A few days later, he discovered that some of the stationery was of the wrong type and returned them. The returned stationery amounted to $119. A cheque of $1,720 was also issued to pay the supplier. What is the balance on the supplier account after these transactions?
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
978-0-538-4527, 0-538-45274-9, 978-1133161646
