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Answer questions 12 - 16. Use the following information to answer question 12 to 16: The following transactions were completed by Sihat Ceria Enterprise during
Answer questions 12 - 16.
Use the following information to answer question 12 to 16: The following transactions were completed by Sihat Ceria Enterprise during March 2021. Sihat Ceria Enterprise uses the perpetual inventory system. March 1 Purchased RM65,000 of merchandise on account from manufacturer, Oxxon , terms 3/10, n/30, FOB shipping point. 6 Returned RM3,000 of the merchandise purchased on March. 9 Paid to Oxxon for the purchase on 1 March less the return and discount. 18 Sold merchandise on account to Perniagaan Murni, RM12,000, terms 2/10, n/30, FOB shipping point was RM200. The cost of merchandise sold was RM4,000. 27 Received payment from Perniagaan Murni for the sale on 18 March. 12. What is the amount of purchase discount received from Oxxon on 9 March 2021? A. RM6,000 B. RM1,850 C. RM1,950 D. RM1,860 13. What is the amount of cash required to pay Oxxon on 9 March 2021? A. RM56,000 B. RM60,140 C. RM62,000 D. RM60,050 14. The journal entry to record the transaction on 18 March 2021 is: A. Debit Account Receivable RM12,000 Credit Sales RM12,000 Debit Cost of Merchandise Sold RM8,000 Credit Merchandise Inventory RM8,000 B. Debit Account Receivable Credit Sales Debit Cost of Merchandise Sold RM12,000 RM12,000 RM4,000 Credit Merchandise Inventory RM4,000 C. Debit Account Receivable Credit Sales D. Debit Account Receivable Credit Sales Debit Cost of Merchandise Sold RM12,000 RM12,000 RM4,000 RM4,000 RM12,000 Credit Merchandise Inventory RM12,000 15. What is the amount of cash received from Syarikat Murni on 27 March 2021? A. B. C. D. RM11,760 RM12,000 RM3,920 RM4,000 16. What is the amount of transportation cost paid by Sihat Ceria Enterprise on 18 March 2021? A. B. C. D. RM200 RM400 RM100 RMOStep by Step Solution
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