Waec Model Questions Vol1 2017 Financial Accounting Question 15
Practice objective / multiple choice question 15 from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
The Sales Ledger Control account opened with a zero balance. During the year credit sales amounted to ₦1,200,000 and cash received from customers was ₦720,000. At year end the total of the individual customer balances in the sales ledger is ₦440,000. It is later discovered that a credit note of ₦30,000 issued to a customer was omitted from the control account (but recorded in the subsidiary ledger) and a cash receipt of ₦10,000 was omitted from both the control and subsidiary ledgers. What is the correct debit balance of the Sales Ledger Control account at year end?
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About This Question
This is Waec Model Questions Vol1 2017 Financial Accounting Question 15. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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