11 mark
A wholesale flower supplier had the following transactions.
Sold goods, $18 000, on credit
Received cheque, $9000, from sale of vehicle at book value
How would these amounts be classified?
revenue receipt $ | capital receipt $ | |
|---|---|---|
A | nil | 27 000 |
B | 9 000 | 18 000 |
C | 18 000 | 9 000 |
D | 27 000 | nil |
Choose your answer