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FAC 1501 ASSESSMENT 01 SEMSTER %
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FAC 1501 ASSESSMENT 01 SEMSTER %
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SYDNEY TUTORING ACADEMYSEMESTER II 2023
FAC 1501 ASSESSMENT 1
SEMESTER 2 100%
DISTINCTION GUARANTEED
083 533 6960
WANDA DER TUTOR
FACEBOOK: SYDNEY TUTORING ACADEMY
, Question 1
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Marked out of 2.00
On 30 December 2021, Africa Traders did an electronic funds transfer payment of
R18 750 to SA Bank, for the interest on the loan. Africa Traders is not a registered
VAT vendor.
Which account will be debited, and which account will be credited in the general
ledger of Africa Traders?
Select one:
a. Dr Interest expense Cr
2021 R 2021 R
Dec Dec 30 Bank 18 750
Dr Bank Cr
2021 2021 R
Dec 30 Interest expense 18 750 Dec
b. Dr Interest expense Cr
2021 R 2021 R
Dec Dec 30 Trade payables 18 750
Dr Trade payables Cr
2021 2021 R
Dec 30 Interest expense 18 750 Dec
c. Dr Interest expense Cr
2021 R 2021 R
Dec 30 Bank 18 750 Dec
Dr Bank Cr
2021 2021 R
Dec Dec 30 Interest expense 18 750
d. Dr Interest expense Cr
2021 R 2021 R
Dec 30 Trade payables 18 750 Dec
Dr Trade payables Cr
2021 2021 R
Dec Dec 30 Interest expense 18 750
Clear my choice
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