\(\begin{array}{c|c} & N \\ \text{Debtors (1/1/98)} &...
Use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \text{Debtors (1/1/98)} & 2,000 \\ \text{Debtors (31/12/98)} & 1,250 \\ \text{Cash received from debtors} & 6,000 \\ \text{Bad debt written off} & 750 \\\ \text{Discount allowed} & 500 \\ \text{Discount received} & 125\end{array}\)
What was the amount of sales for the year?
N8,500
N6,625
N6,500
N6,000
Correct answer is C
No explanation has been provided for this answer.
The similarities between Receipts and payments and income and expenditure account is ...
When discount is allowed, the accounting entry is debit Discount allowed and credit ...
How are credit sales by a department treated? ...
Subscription in advance is classified in the balance sheet as ...
How much rent is apportioned to department K? ...
When shares are issued at a discount, entries are to debit ...