Anonymous
Apr 9
Paid R9 500 per EFT to PN suppliers for stock purchased. R1 500 covered the delivery cost of the stock. Which accounts are affected and how to record this in the Cash Receipts Journal?
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Apr 9
The accounts affected by this transaction are:
1. Accounts Payable (PN suppliers) - Decrease by R9 500
2. Delivery Cost Expense - Increase by R1 500
To record this transaction in the Cash Receipts Journal, you would make the following entry:
Date | Description | Accounts Payable | Delivery Cost Expense | Cash
---|---|---|---|---
[Date] | Paid PN suppliers for stock purchased | R9 500 | R1 500 | R11 000
1. Accounts Payable (PN suppliers) - Decrease by R9 500
2. Delivery Cost Expense - Increase by R1 500
To record this transaction in the Cash Receipts Journal, you would make the following entry:
Date | Description | Accounts Payable | Delivery Cost Expense | Cash
---|---|---|---|---
[Date] | Paid PN suppliers for stock purchased | R9 500 | R1 500 | R11 000
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