Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Received cheque from Tablelands Maize in full settlement of balance owing which was supposed to be $10,200. Is this correct calculation for Discount - see




Received cheque from Tablelands Maize in full settlement of balance owing which was supposed to be $10,200.

Is this correct calculation for Discount - see the procedures (2.5% off)

After discussing it with S Golden they told you to let them pay this amount as is.

$9,894.00

My teacher marked me wrong here:

imageimage

7/06/2023 Cheque Account Account Receivable - Tableland Maize 1-1100 1-2000 $ 9,894.00 $ 9,894.00 Note: Payment on balance with Cheque 154368, Big Bank, Other branch Discount Expense 6-2200 $ 51.00 See below! Account Receivable - Tableland Maize 1-2000 $ 51.00 Note: S Golden authed to forgo the outstanding balance for INV 7275

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting An Introduction To Principles And Practice

Authors: Edward A. Clarke, Michael Wilson

9th Edition

0170403831, 978-0170403832

More Books

Students also viewed these Finance questions

Question

10:12 Answered: 1 week ago

Answered: 1 week ago