Exam (elaborations)
FAC 1501 ASSESSMENT 01 SEMSTER %
- Institution
- University Of South Africa (Unisa)
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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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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