Accounts Chapter 4 Flashcards
1
Q
Name the debits and credits of:
Goods sold on credit
A
Cr Sales
Dr Debtors Control
Cr Trading Stock
Dr Cost of Sales
2
Q
Name the debits and credits of:
Stock was returned by a debtor
A
Cr Debtors Control
Dr Debtors Allowances
Cr Cost of Sales
Dr Trading Stock
3
Q
Name the debits and credits of:
A debtor was overcharged
A
Cr Debtors Control
Dr Debtors Allowances
4
Q
Name the debits and credits of:
A debtor settled their account
A
Cr Debtors Control
Dr Bank
5
Q
Name the debits and credits of:
A discount was allowed to a debtor
A
Cr Debtors Control
Dr Debtors Control
6
Q
Name the debits and credits of:
The cheque from a debtor who settled their account is not valid (no discount allowed)
A
Cr Bank
Dr Debtors Control
