\(\begin{array}{c|c} & \text{N} \\ \hline \text{Debto...
NDebtors opening4000Debtors clsoing1500Cash received from debtors8500Bad debts written off350Discount allowed500Discount Received1000
What is the amount of sales of sales for the year?
₦3850
₦6650
₦1550
₦6850
Correct answer is D
Dr Total Debtors Control A/c Cr
bal b/f.....4,000Cash received..... 8,500Credit sales.....6,850Bad debt written off.....50Dr. Allowed.....500bal c/d.....1,50010,85010,850bal b/d.....1,500
D is correct ₦6850 as the sales for the year accordingly to the above calculations
The total debtors account is meant to control the transactions with customers whether in cash or credits and to know the remaining cash receivables from customers.
Industry ltd, issued 100,000 shares at ₦1 each out of its Authorized share capital of ₦200,000 a...
Where partners maintain a fluctuating capital account, partners' share of profit is credited to ...
Given: Light expenses...................N400 Purchases........................N3,000 Sales..........
A chain store is known as? ...
One of the major features of book keeping is that it ...
NAFARA AND SONS Balance Sheet items as at 31st December, 1987. Capital N74480 Creditors N15875 ...
A charitable club has the following figures: N Subscriptions received in 1991 2 800 Subscr...