[tumza17]

The answer is C

[tumza17]

Prepayment is a current asset in your books if you are the one paying the amount and a liability to the receiver. You just need to understand whose books the question is asking about. Your books or the Suppliers….

[tumza17]

1. $8250

2. $1250

3. $9000

4. There’s a difference of $750. There’s missing stock valued at $500 and stock written off of $250 which are included in the Cost of sales.

5. $8250

[tumza17]

I have a problem with #6. Which accounts to open

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