During February 2022, the following occurred in the business of Nam-Tura Trading, a general dealer:Feb 2022Nam-Tura deposited an amount of N$200 000 into the bank account ofthe business.3Paid for an advertisement on Facebook using the debit card of thebusiness, N$2 500.4Sold goods on credit to Mr Hosea, N$100 000.Paid for repairs to Nam-Tura's personal vehicle N$3 250 by electronic fundstransfer (EFT)10Purchased goods on account from H. Haufiku, N$150 000.12Mr Hosea returned damaged goods worth N$5 000.15Mr Hosea settled his account by directly deposited the amount into thebusiness bank and received 5% discount.28Received interest on the positive balance in the bank account N$2 500.Determine the amount of discount Mr Hosea was allowed on 15 February 2022.Answer:CO

The discount allowed to debtors is recorded as debit balance into the books.

During February 2022, the following occurred in the business of Nam-Tura Trading, a general dealer: Feb 2022 Nam-Tura deposited an amount of N$200 000 into the bank account of the business. 3 Paid for an advertisement on Facebook using the debit card of the business, N$2 500. Sold goods on credit to Mr Hosea, N$100 000. Paid for repairs to Nam-Tura's personal vehicle N$3 250 by electronic funds transfer (EFT) 7 10 Purchased goods on account from H. Haufiku, N$150 000. 12 Mr Hosea returned damaged goods worth N$5 000. 15 Mr Hosea settled his account by directly deposited the amount into the business bank and received 5% discount. 28 Received interest on the positive balance in the bank account N$2 500. Determine the amount of discount Mr Hosea was allowed on 15 February 2022. Answer:

During February 2022, the following occurred in the business of Nam-Tura Trading, a general dealer: Feb 2022 Nam-Tura deposited an amount of N$200 000 into the bank account of the business. 3 Paid for an advertisement on Facebook using the debit card of the business, N$2 500. Sold goods on credit to Mr Hosea, N$100 000. Paid for repairs to Nam-Tura's personal vehicle N$3 250 by electronic funds transfer (EFT) 7 10 Purchased goods on account from H. Haufiku, N$150 000. 12 Mr Hosea returned damaged goods worth N$5 000. 15 Mr Hosea settled his account by directly deposited the amount into the business bank and received 5% discount. 28 Received interest on the positive balance in the bank account N$2 500. Determine the amount of discount Mr Hosea was allowed on 15 February 2022. Answer:

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter1: Business Transactions (ptrans)

Section: Chapter Questions

Problem 4R: On June 1 of the current year, Wilson Wood opened Woodys Web Services. This sole proprietorship had...

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