Accounting and Finance

Cash

Accounts receivable

Inventory

All of the above

capital

motor expenses

motor vehicles

purchases

cash discounts allowed

provision for bad debts

purchases returns

trade discount received

debit Smith’s account $30, credit Discount Allowed Account $30

debit Smith’s account $30, credit suspense account $30

debit suspense account $30, credit Discount Allowed Account $30

debit suspense account $30, credit Smith’s account $30

an accrual of $800

an accrual of $2 400

a prepayment of $800

a prepayment of $2 400

$750 increase

$1 250 decrease

$1 750 increase

$2 250 decrease

at book value

at cost

at replacement cost

at scrap value

to increase current assets and increase current liabilities

to increase current assets and reduce current liabilities

to increase non-current assets and reduce current assets

to increase non-current assets and increase current liabilities

balance sheet only

income and expenditure account and balance sheet

income and expenditure account and receipts and payments account.

receipts and payments account and balance sheet

Sales

Accounts payable

Owner’s equity

All of the above