account

The account ((Merchandise inventory) used in----inventory system and its normal Balance is-----:

• A. Periodic-Credit

• B. Perpetual-Credit

• C. Periodic-Debit

• D. Perpetual- Debit

Noora Purchased goods of BD1000 Cash, from Fatima company, Under the perpetual Inventory System the journal entry recorded is:

• A. Dr. Merchandise Inventory BD1000 Cr. Cash BD1000

• B. Dr. Merchandise Inventory BD1000 Cr. Account Payable-Fatima BD1000

• C. Dr. Purchases BD1000 Cr. Cash BD1000

• D. Dr. Merchandise Inventory BD1000 Cr. Accounts Payable-Noora BD1000

Salman Sale goods for BD4,000 to Jassim, terms 2/10, n, 30. If Jassim paid within a discount period, the cash Receive is:

• E. 75

• f . 8000

• G .80

• H .3920

5. On April 7, 2021, Kaleem Company received refund from Noora Est, BD150 for returned goods on cash purchase Under the perpetual system the general journal of this transaction is:-

• Dr. Merchandise inventory BD150 Cr. Cash BD150

• Dr. Cash BD150 Cr. Merchandise inventory BD150

• Dr. Purchases BD 150 Cr. Cash BD150

• Dr. Cash BD150 Cr. Purchases returns & Allowances BD150

4. Rawan purchase goods for BD 300,on 13 jan 2022, terms 4/10n30. month. Birse Ministry of Education Day The last date to get the discount on purchases is:

• 17jan2022

• 30jan2022

• 23jan2022

• 20jan2022