Page 367 - F3 -FA Integrated Workbook STUDENT 2018-19

Answers

Example 3 cont.

Solution
Receivable Debit Credit

1 $9,500 Cash $9,500 Receivable $9,500 $10,000 × 95%
2 $5,700 Cash $6,000 Receivable $5,700 $6,000 × 95%

Revenue $300 $6,000 × 5%
3 $9,000 Cash $9,000 Receivable $9,000

4 $8,000 Cash $7,600 Receivable $7,600 $8,000 × 95%
Revenue $400 Receivable $400 $8,000 × 5%

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