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Question 1 Not yet answered Marked out of 200 A company purchased $4,500 of merchandise on May 1 with terms of 2/10,n/30. On May 6, it returned $250 of that merchandise On May 8, it paid the balance owed for merchandise, taking any discount it is entitled to Flag question The cash paid on May 8 is: $4,500 $4,250 $4,165 The cash paid on June 10th $4,160 Question 1 Not yet answered Marked out of 2.00 Flag question A company purchased $4,500 of merchandise on May 1 with terms of 2/10, 1/30. On May 6, it returned $250 of that merchandise. On May 8, it paid the balance owed for merchandise, taking any discount it is entitled to The cash paid on May 8 is: The cash paid on June 10th $4,165 $4,250 $4,150 $4,500 Question 2 The closing balance of the Purchase Ledger account appears as: Not yet answered Marked out of 1.00 Expense Current Liability Current Asset Non Current Asset Flag question Question 3 Jamil Lent us $1,500 by cheque. This transaction will be entered in Cash Book as Not yet answered Marked out of 1.00 Credit side of Cash Column Debit side of Bank Column Debit Side of Cash Column Credit side of Bank Column Flag question Question 4 Not yet Which of the following are errors of principle? answered Purchases of machinery entered in Purchases account Marked out of 1.00 ii. Selling expenses had been debited to Sales Account P Flag question Credit sales of $300 entered in both double entry accounts as $30

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