CICHFIELD Search Modules Resources Bursaries and Graduate Programme 13 What is the value of cost of sales if: Sales R60 000; Closing stock R10 000; Opening Stock R10 000; Purchases R50 000; Wages R20 000 and Office Rent R10 000? out of Select one: a. R50 000 uestion O b. R70 000 c. R10 000 d. R30 000 14 Sparky Traders always pay their electricity bilt in advance Which entries will they record to effect the adjustment at the end of their financial year? out of question Select one a. Debit: Accrued electricity expense Credit Electricity expense b. Debit: Electricity expense Credit: Prepaid expense O Debit: Prepaid electricity expense Credit: Electricity expense d. Debit: Electricity expense Credit: Accrued electricity expense