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FAC 1501 ASSESSMENT 01 SEMSTER %

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FAC 1501 ASSESSMENT 01 SEMSTER %

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University Of South Africa (Unisa)
Course
FAC1501 - Introductory Financial Accounting









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Institution
University of South Africa (Unisa)
Course
FAC1501 - Introductory Financial Accounting
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SYDNEY TUTORING ACADEMY
SEMESTER 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




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