Question 36 Not yet answered Marked out of 1.00 The total of the sales journal is entered on Select one: a. The credit side of the sales Account in the General Ledger b. The credit side of the General Account in the Sales Ledger c. The debit side of the Sales Account in the General Ledger d. The debit side of the Sales Day Book Clear my choice Question 37 Not yet answered Marked out of 1.00 A firm bought a machine for $3,200. It is to be depreciated at a rate of 25% using the reducing balance method. What would be the remaining book value after two years? Select one: a. $1,600 b. $2,400 c. $1,800 d. Same other figure Clear my choice Question 38 Not yet answered Marked out of 1.00 Which of the following are books of prime entry? Select one: a. Sale day book and trial balance O b. Petty cash book and accounts receivable ledger c. Petty cash book and Sales day book d. Purchase day book and account payable ledger Clear my choice Question 39 Not yet answered Marked out of 1.00 What journal entry is required to record goods taken from Purchases by the owner of business ? Select one: a. Dr Drawings Cr Purchases b. Dr Sales Cr Drawings c. Dr Drawings Cr Inventory d. Dr Inventory Cr Drawings Clear my choice Question 40 Not yet answered Marked out of 1.00 Which of the following is not a benefit of providing credit to customers? Select one: a. May result in increased sales b. Encourages customers loyalty c. Attracts new customers d. Improves the cash flow of the business o Clear my choice