Debtors Journal (Grade 10 NSC Matric Accounting): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is a debtors journal used to record?
What is a debtors journal used to record?
All credit sales made by a business
Who is a debtor?
Who is a debtor?
A person who owes money for credit goods
What does the 'Doc' column in a debtors journal record?
What does the 'Doc' column in a debtors journal record?
The invoice number
How often are individual debtor accounts posted from the debtors journal?
How often are individual debtor accounts posted from the debtors journal?
Daily
If cost price is R1 200 with 66⅔% mark-up, what is selling price?
If cost price is R1 200 with 66⅔% mark-up, what is selling price?
R2 000
What is a debtors allowances journal used for?
What is a debtors allowances journal used for?
Recording customer returns & allowances
What document is issued when a customer returns goods?
What document is issued when a customer returns goods?
A credit note
What happens to a customer's debt when goods are returned?
What happens to a customer's debt when goods are returned?
It decreases
How must invoice numbers appear in the debtors journal?
How must invoice numbers appear in the debtors journal?
In numerical order
With 66⅔% mark-up, if selling price is R1 800, what is cost price?
With 66⅔% mark-up, if selling price is R1 800, what is cost price?
R1 080