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What transaction is represented by the following journal entry? DEBIT Surveyor's fee $600 CREDIT Payables account $600 Payment of surveyor's fee by online payment A credit note received from a surveyor An invoice received from a surveyor An invoice issued to a surveyor 7. These are accounts in the general ledger which record the total value of a number of similar but individual items. What type of accounts are being described in the above paragraph? Trade recelvables or trade payables accounts Receivables ledger or payables ledger Statement of profit or loss An expense account 8. A supplier sends you a statement showing a balance outstanding of $14,350. Your own records show a balance outstanding of $14,500. Which of the following could be a reason for this ditference? The supplier sent an invoice for $150 which you have not yet received The supplier has allowed you $150 settiement discount which you had omitted to enter in your ledgers - You have paid the supplier $150 which they have not yet accounted for - You have returned goods worth $150 which the supplier has not yet accounted for 9. Phil is reviewing the payables ledger account and he has discovered the following: (1) A credit customer unexpectedly did not take advantage of a settiement discount offered to them (2) An invoice for $989 was entered in the payables ledger as $998 Which of the errors will require an adjustment to the payables ledger? - Neither 1 nor 2 - 1 only - 2 only Both 1 and 2 10. In a computerised accounting system, Alison has identified that a credit sale was understated by $400 on an involice sent to a customer. The balance on the trade receivables account is currently shown as $75,356. What is the correct balance of trade receivables to be reported on the statement of financial position

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