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After negotiations over scuffed merchandise, received from Frist a \( \$ 600 \) allowance toward the \( \$ 8,500 \) owed on the April 18 purchase.

Ask by Stanley Mathis. in the United States
Mar 15,2025

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After applying the \$600 allowance, \$7,900 is still owed.

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Beyond the Answer

This situation reflects common practices in business negotiations, especially in retail environments where customer satisfaction is key. The \( \$ 600 \) allowance might serve to preserve the relationship with the customer, preventing potential disputes or loss of future business, demonstrating how a simple negotiation can save the day! In terms of problem-solving, always document any agreements or allowances in writing, ensuring clarity for both parties. Miscommunication over verbal agreements can lead to misunderstandings, resulting in unhappy customers or unnecessary financial losses. Keeping a clear record helps all stakeholders remain on the same page!

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The following transactions have been extracted from the books of a parthership ZT Traders (partners Zel an Tees) at the financial year end 28 February 20.9. The business applies a \( 60 \% \) mark-up on cost on all goodi The bank account has a credit balance at all times. REQUIRED: Analyse the following transactions under the headings in your Answer Book. The first one has been done a an example for you. TRANSACTIONS: E.g.: Paid the electricty account of R2 500. 1. Received a direct deposit from a tenant for rent of \( R 5500 \). 2. Provision for bad debts of R3 200 must be reduced to R2 900. 3. Bought packing materials on credit for R1 600 less \( 8 \% \) tade discount. 4. Paid the creditor (see No. 3) by EFT the amount owing less \( 5 \% \) discount. 5. Debtor, J. Mkhize, deposited an amount of R4 248 after a discount of \( 11,5 \% \) had been deducted. 6. Partner Zel took goods with a selling price of R5 000 for his own use. 7. Parther Tees withdrew his monthly salary of R12 000. 8. Partner Zel tuansferred a Gr balance of R 45000 on his current account to his capital account. 9. Trading stock with a selling price of R90 000 must be written down to \( 10 \% \) below the cost price as the stock is now old. 10. Dehtor, J. Mshala, claimed an allowance of \( 15 \% \) on goods with a cost price of R3 600 as they were damaged. Alowed her this claim. 11. A creditor with a debit balance of R500 must be transferred to her debtors account. 12. Depreciation must be written off equipment of R4 200. 13. A credit sale of R950 to F. Fly was recorded in the account of B. Bea in error. 14. Transfer the gross profit of R120 000 . 15. Allocate the interest on capital to partner Zel of R15 000. 16. The final division of profit to partreer Tees was R65 000. 17. The Pre-Adjustment Trial Balance showed insurance of R 33800 . This included an annual premium of R13 200 paid on 1 November 20.8. 18. The consumable stores on hand on 1 March 20.8 for 2920 was not reversed. Make the correction. 19. Partner Zel's personal insurance of \( R 750 \) was debited to the insurance account. Paid the rates deposit of R7 800 to the municipality.

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The following transactions have been extracted from the books of a parthership ZT Traders (partners Zel an Tees) at the financial year end 28 February 20.9. The business applies a \( 60 \% \) mark-up on cost on all goodi The bank account has a credit balance at all times. REQUIRED: Analyse the following transactions under the headings in your Answer Book. The first one has been done a an example for you. TRANSACTIONS: E.g.: Paid the electricty account of R2 500. 1. Received a direct deposit from a tenant for rent of \( R 5500 \). 2. Provision for bad debts of R3 200 must be reduced to R2 900. 3. Bought packing materials on credit for R1 600 less \( 8 \% \) tade discount. 4. Paid the creditor (see No. 3) by EFT the amount owing less \( 5 \% \) discount. 5. Debtor, J. Mkhize, deposited an amount of R4 248 after a discount of \( 11,5 \% \) had been deducted. 6. Partner Zel took goods with a selling price of R5 000 for his own use. 7. Parther Tees withdrew his monthly salary of R12 000. 8. Partner Zel tuansferred a Gr balance of R 45000 on his current account to his capital account. 9. Trading stock with a selling price of R90 000 must be written down to \( 10 \% \) below the cost price as the stock is now old. 10. Dehtor, J. Mshala, claimed an allowance of \( 15 \% \) on goods with a cost price of R3 600 as they were damaged. Alowed her this claim. 11. A creditor with a debit balance of R500 must be transferred to her debtors account. 12. Depreciation must be written off equipment of R4 200. 13. A credit sale of R950 to F. Fly was recorded in the account of B. Bea in error. 14. Transfer the gross profit of R120 000 . 15. Allocate the interest on capital to partner Zel of R15 000. 16. The final division of profit to partreer Tees was R65 000. 17. The Pre-Adjustment Trial Balance showed insurance of R 33800 . This included an annual premium of R13 200 paid on 1 November 20.8. 18. The consumable stores on hand on 1 March 20.8 for 2920 was not reversed. Make the correction. 19. Partner Zel's personal insurance of \( R 750 \) was debited to the insurance account. Paid the rates deposit of R7 800 to the municipality.
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