Styles GROUP TASK: TRANSACTION RELATED QUESTIONS 1

Styles GROUP TASK: TRANSACTION RELATED QUESTIONS 1. Draw a graphic representation of Sales and Collection Cycle for Pylon LLC showing/using all the relevant accounts/transaction entries listed below. a. Sales b. Cash in bank C. Cash Discounts Taken d. Accounts Receivable e. Sales return and Allowances f. Bad debt expense You graph representation should show all the relevant T-Accounts with book-keeping entries relating to: 1. II. III. Dubai Exotic Cars LLC - a car dealer customer who has made credit purchase from UAM Motorsport for AED 4,500,000 on 27th June 2020. UAM Motorsport made a credit sales to Rews Sportcar LLC for AED 2,725,000 on 15th August 2019 and paid in full by 15th November 2020 (the due date) Revus Sportcar LLC Cars returned some faulty goods back to UAM Motorsport for AED 1,250,000 on 30th November 2021 and a cheque for reimbursement was sent to Revvs Sportcar LLC one week later. A wealthy Sheikh from Saudi bought a reconditioned Lamborghini Huracan from UAM Motorsport for a cash price of AED960,000. IV.