Tutorial CBIT
The followings are the purchase transactions of Webex Trading for the month of August 2015.
August:
2
bought 4 sets of golf clubs at RM50 each and 5 footballs at RM20 each from Liang
Sports Company. Trade discount of 25% shall be given for total purchases above RM800.
5
bought 6 crickets’ bats at RM18 each, 6 ice skates at RM13 each from Elliot. 15% trade
discount is given for all purchases above RM300.
20
8 goal posts that cost RM1,000 less 20% trade discount from Francis.
25
25 nets of RM800 less 15% trade discount from James.
29
15 boxes of shuttlecocks at RM30 each less 20% trade discount and 107 ping pong balls
of RM0.70 per ball from Kumar.
Required:
Enter the transactions in the purchases journal (show your workings on how you derive the final
amounts).