Accounting doubts & Queries

[David Hussey]

Do you know anyone who's good in Accountings here? It's 16k.

tricky one, need to use a bit of Maths here
we know credit sales is 80% which means 280000
we have a the b/d balance 46000 , credit sales 280000,
they also say cash received of 303800 AFTER a discount
make a T a/c and fill in all this
the provision part is useless
in the t ac we also have to enter the discount allowed , which we dont know
how to find it? they havent even told us the original sales figure in order to calculate the discount, so v have two unknowns
well think of it this way
let X=discount and Y=original sales figure
so we can derive two formulae
2% * y= x
and
y-x=303800
if you think properly you will understand my point here

so formulae number i
make x the subject
hence y=50X
no sub this in the 2nd formula
you will get x=6200, which is the discount

now just plug it in the T a/c u made, and ull get 16000!