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Bondi Ltd Is a Small Sport Shop

Question 55

Multiple Choice

Bondi Ltd is a small sport shop.At the beginning of the period,Bondi Ltd had 30 tennis racquets on hand costing $50 each.On 31 October 2009,the shop sold 20 racquets to a tennis instructor for $80.A delivery of 50 racquets was received on 15 November 2009 at $50 but received 2% discount if the account is paid within 30 days.What are the appropriate journal entries to recognise above transactions using the periodic system?


A)
Bondi Ltd is a small sport shop.At the beginning of the period,Bondi Ltd had 30 tennis racquets on hand costing $50 each.On 31 October 2009,the shop sold 20 racquets to a tennis instructor for $80.A delivery of 50 racquets was received on 15 November 2009 at $50 but received 2% discount if the account is paid within 30 days.What are the appropriate journal entries to recognise above transactions using the periodic system? A) B) C) D)
B)
Bondi Ltd is a small sport shop.At the beginning of the period,Bondi Ltd had 30 tennis racquets on hand costing $50 each.On 31 October 2009,the shop sold 20 racquets to a tennis instructor for $80.A delivery of 50 racquets was received on 15 November 2009 at $50 but received 2% discount if the account is paid within 30 days.What are the appropriate journal entries to recognise above transactions using the periodic system? A) B) C) D)
C)
Bondi Ltd is a small sport shop.At the beginning of the period,Bondi Ltd had 30 tennis racquets on hand costing $50 each.On 31 October 2009,the shop sold 20 racquets to a tennis instructor for $80.A delivery of 50 racquets was received on 15 November 2009 at $50 but received 2% discount if the account is paid within 30 days.What are the appropriate journal entries to recognise above transactions using the periodic system? A) B) C) D)
D)
Bondi Ltd is a small sport shop.At the beginning of the period,Bondi Ltd had 30 tennis racquets on hand costing $50 each.On 31 October 2009,the shop sold 20 racquets to a tennis instructor for $80.A delivery of 50 racquets was received on 15 November 2009 at $50 but received 2% discount if the account is paid within 30 days.What are the appropriate journal entries to recognise above transactions using the periodic system? A) B) C) D)

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