I was solving the questions with you, in my trade receivable budget, I got the closing balance of trade receivables in July as 466,000. Can you please check again?
Thank you so much for all your help, your videos really helped me and I managed to get an A* in Accounting O Level. Thank you for your incredible support.
Hate to see that even with great potential and amazing teaching skills you're still getting incredibly low amount of views. Explained everything so well and easy to understand thank you
Hi, You deducted 2% discount from cash payments and then again deducted 2% discount in the discount received column, so you deducted the discount received twice. You did it the correct way or I am wrong??
The assumption here is that the actual sales given for April/May/June are net sales, hence not deducted. If that assumption is not taken, then it will be too complicated to calculated most of the numbers like Collection, opening balance, etc.
I was solving the questions with you, in my trade receivable budget, I got the closing balance of trade receivables in July as 466,000. Can you please check again?
Yes right, i skipped to subtract the 14000, so 466000 is the correct closing balance.
you've literally taught me more this A2 than my actual teacher
Thank you so much for all your help, your videos really helped me and I managed to get an A* in Accounting O Level.
Thank you for your incredible support.
Excellent! Always welcome!
Hate to see that even with great potential and amazing teaching skills you're still getting incredibly low amount of views.
Explained everything so well and easy to understand thank you
Thank you and please spread the word :)
Why is the discount allowed deducted in the TR budget, when it was already previously deducted when calculating the cash and cheques recieved
thank you sir. just a request plz give us difficult examples cuz I got way difficult questions in exams
this helped me a lot, thank you!!
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Hi,
You deducted 2% discount from cash payments and then again deducted 2% discount in the discount received column, so you deducted the discount received twice. You did it the correct way or I am wrong??
In the sales quantity in mar I think 26400 not 26460 because 24000*5%=1200+25200=26400
Jan sales = 24000
Feb sales = 24000 + (5 % * 24000) = 25200
Mar Sales = 25200 + (5% * 25200) = 26460
@@EdexWorld oh ok thank you
Aster nu bour Cambridge
Great
In trade receivable budget why are you not consider discount and sales return to find opening balance
The assumption here is that the actual sales given for April/May/June are net sales, hence not deducted. If that assumption is not taken, then it will be too complicated to calculated most of the numbers like Collection, opening balance, etc.
You forgot to consider the discount allowed, so I think your final answer is not correct
Discount allowed is deducted - $300000 June sales x 50% x 2% = $3000. This is deducted in the TR budget.
In the sales quantity in mar I think 26400 not 26460 because 24000*5%=1200+25200=26400
Jan sales = 24000
Feb sales = 24000 + (5 % * 24000) = 25200
Mar Sales = 25200 + (5% * 25200) = 26460