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can you explain in detail please? 15.19 You are an accounts assistant at Cuppa Supplies, a company that sells cups and mugs. The following is

can you explain in detail please?

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15.19 You are an accounts assistant at Cuppa Supplies, a company that sells cups and mugs. The following is an extract from a sales invoice raised by the bookkeeper in your company to a customer, Oasis Cafe. Invoice No: 3242 Date: 31 October 20X6 Description Qty Unit Price $ Net amt Coffee cups 200 $ 5,00 1,000,00 Sales Value 1,000.00 Sales Tax 0.00 Amt payable 1,000.00 A discount of 5% of the full price applies if payment is made within 7 days. If you pay within 7 days, the discounted price is: 950,00 Senior management at your company do not expect Oasis Cafe to take advantage of the discount. However, you receive a payment from Oasis Cafe on 3 November 20%6. Which one of the following gives the entries required to record BOTH of these transactions? DEBIT CREDIT $ $ A Trade receivables 950 Sales 950 Bank 950 Trade receivables 950 B Trade receivables 1,000 Sales 1,000 Bank 950 Trade receivables 950 C Trade receivables 1,000 Sales 1,000 Bank 950 Sales 50 Trade receivables 1,000 D Trade receivables 950 Sales 950 Bank 950 Sales 50 Trade receivables 1,000

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