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Account receivable from nahid 10000 out of which she settled 6000 by sending of 5500 as cheque?

Accounting Finance
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Question added by Ahsan khan
Date Posted: 2017/02/03
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Ahmed Omran
by Ahmed Omran , Senior Management Accountant , NASCORP Holding Co.

The 500 was settled in cash; not in cheque

Deleted user
by Deleted user

There are 3 possible situations:

 

A. The 500 is considered as Sales Discount

B. The 500 is the sales tax inclusive

C. The 500 was settled in cash; not in cheque.

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