Hamila is a trader. Her financial year ends on 28 February. All goods are bought and sold on credit
terms.
Hamila provided the following information for February 2019.
2019
February 1 Safiya, a credit customer, owed $320
12 Safiya paid the balance due on 1 February by cheque
16 Safiya purchased goods on credit, list price $250, less 20% trade discount
18 The bank returned Safiya’s cheque because of insufficient funds in the account
24 Safiya paid $400 in cash
27 The balance of Safiya’s account was written off as irrecoverable
REQUIRED