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Shoe Rama is a shoe shop that buys shoes for cash and sells shoes on credit and for cash. They use a mark-up of 66 2/3 % on cost price. Use the information given to prepare the journals for the business.
Accounting
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You asked me to continue with the accounting problem. I will complete M. De Kocks' account and then proceed to complete the journals as requested in the problem.
Debtors Ledger (Continued)
Step 3: M. De Kocks' Account
- Start with any credit sales to M. De Kocks. Since no opening balance is given, we assume it starts at R0.
- Calculate the closing balance.
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Date & Details & Amount (R) & Date & Details & \Was this helpful?
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