On 1 June, Samir sold goods on credit to Faisal. Some of the goods were returned on 8 June. In what order would Samir and Faisal exchange documents in June?
Invoice, Debit Note, Credit Note
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20
What is the purpose of having cash discount?
paid within a stated time
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seesaw
Swap points!
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rocket
Go to first place!
Okay!
shark
Other team loses 20 points!
Okay!
thief
Give points!
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20
Sold on credit to James. State the double entry.
Dr James Cr Sales
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seesaw
Swap points!
Oops!
rocket
Go to first place!
Okay!
rocket
Go to first place!
Okay!
baam
Lose 25 points!
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heart
Other team wins 15 points!
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seesaw
Swap points!
Okay!
fairy
Take points!
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25
thief
Give points!
5
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15
What is the purpose of debit note?
To request for reduction in invoice
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20
What is the purpose of having trade discount?
Buying in Bulk
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20
Mark transferred his private motor vehicle to his business. How did he record this?
Dr motor vehicle Cr Capital
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15
What is the purpose of the purchases journal?
Records goods bought on credit
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15
What is the name of the document that summaries the customer's transactions for the month?