Banking: set 1
10 questions. Click an option: a correct answer turns green, a wrong one red, and an explanation appears.
Interest previously accrued on a bank loan was paid from the settlement account. What journal entry is made?
When cash sales proceeds were handed over to a cash collector, Dt 5710 Kt 5010 was recorded. Now the money has arrived in the settlement account at the bank. What journal entry is made?
To settle with a supplier by letter of credit, money was transferred from the settlement account to a letter of credit. What journal entry is made?
A company borrowed money for 8 months from another organisation that is not a bank. In which account is this borrowing recorded?
A short-term loan received from a bank was repaid on time from the settlement account. What journal entry is made?
The unused balance of a letter of credit was returned by the bank to the company's settlement account. What journal entry is made?
A foreign customer transferred payment in US dollars for exported products to the company's foreign currency account in Uzbekistan. What journal entry is made?
A customer transferred its debt for previously shipped products to the company's settlement account. What journal entry is made?
A company lent 24 000 000 soums short-term to a partner organization, with 15% annual simple interest agreed in the contract. What is one month's interest, and how is it recorded under NAS No. 21?
US dollars were withdrawn to the cash desk from the domestic foreign currency account to send an employee on a business trip abroad. What journal entry is made?