EMS Grade 9 Debtors

Debtors are classified as

• A Liablty
• Expense
• Income
• Asset

A credit sale has the following effect on the accounting equation

• Increase debtors, increase Owners Equity
• Decrease debtors, decrease Owner's Equity
• Increase Bank, Decrease Debtors
• Increase Liabilities, decrease Onwer's Equity

Debtors Allowances are

• Sales
• Discounts
• Returns of goods purchased
• Liabilities

The cost of goods sold is posted to 

• Trading stock and Sales
• Cost of Sales and Sales
• Trading Stock and Cost of Sales
• Bank and Trading Stock

The source document for a credit return is

• Cash Register Role
• Duplicate Invoice
• Duplicate credit Note
• Bank Statement

Credit Sales are recorded in 

• Cash Receipts journal
• Cash Payments Journal
• Debtors allowances Journal
• Debtors Journal

Cash received from a debtors in settlement of their account is recorded in 

• CPJ
• DJ
• CRJ
• DAJ

The accounting effect from the receipt of a debtor settling their account is

• Debit Debtors Credit Bank
• Debit Bank Credit Debtors
• Debit Sales Credit Bank
• Debit Debtors Allowances Credit Debtors

Debtors returns of damaged goods effects the trading stock and cost of sales account

• True
• False

A sales transaction, credit or cash, always results in Crediting Cost of Sales and Debiting Trading Stock

• False
• True