Waec Model Questions Vol1 2017 Financial Accounting Question 11
Practice objective / multiple choice question 11 from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
The cash book for June opened with a balance of ₦12,500. The following cash receipts were recorded: cash sales ₦45,800 and loan received ₦18,200. The following cash payments were recorded: rent ₦9,600, salaries ₦12,750, purchase of inventory ₦23,400 and electricity ₦1,580. It was later discovered that the electricity payment was entered as ₦1,580 instead of the correct ₦1,850, and the interest receipt of ₦1,350 had been omitted. What is the corrected closing balance of the cash book at the end of June?
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About This Question
This is Waec Model Questions Vol1 2017 Financial Accounting Question 11. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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