On march ,6 Housing bank/ main branch sold $10,000 bank's checks as order of Sun...
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Accounting
On march ,6 Housing bank/ main branch sold $10,000 bank's checks as order of Sun company , the check drawn on Morgan bank N.Y . the bank debit Sun company credit current account (Jordanian dinnar account ) of the check value plus commission at 3%, plus postal revenue at JD 8 . the exchange rate for 1 $ =(.730 .740 .750).
1- the amount recorded on Sun company credit current account is: ABCD
A- 7725
B- 7527
C- 7300
D- 7733
2- when the bank debiting Sun company credit current account ,the credit side of the journal entry contains the following account: ABCD
A- "Bank's checks sold" at amount of JD 7300 .
B- "Bank's checks sold" at amount of JD 7500 .
C- Morgan bank N.Y at amount of JD 7300 .
D- commission on Bank's checks sold of JD 219
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