On 5 December 2020, Manal Trading company sold goods to a customer on account for 37800 OMR. Which of the following is the correct journal entry for the transaction?
On 5 December 2020, Manal Trading company sold goods to a customer on account for 37800 OMR.
Which of the following is the correct
|
Date |
Accounts |
Debit (RO) |
Credit (RO) |
|
05.12.2020 |
Receivable |
37800 |
|
|
|
|
|
|
|
Sales (Revenue) |
|
37800 |
|
Date |
Accounts |
Debit (RO) |
Credit (RO) |
|
05.12.2020 |
Receivable |
73800 |
|
|
|
|
|
|
|
Sales (Revenue) |
|
73800 |
|
Date |
Accounts |
Debit (RO) |
Credit (RO) |
|
05.12.2020 |
Sales (Revenue) |
37800 |
|
|
|
|
|
|
|
Receivable |
|
37800 |
|
Date |
Accounts |
Debit (RO) |
Credit (RO) |
|
05.12.2020 |
Cash |
37800 |
|
|
|
|
|
|
|
Sales (Revenue) |
|
37800 |
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Assume that Zandile's Boutique registered as a VAT vendor effective 1 March 2019. Zandile's Boutique had a VAT input total amount of R24 760 and a VAT output total amount of R37 860 at 31 March 2019. Which one of the following represents the balance of the VAT control account at 31 March 2019? A) R13 100 debit. B) R13 100 credit. C) R62 620 debit. D) R62 620 credit.
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