Waec Model Questions Vol1 2018 Financial Accounting Question 23
Practice objective / multiple choice question 23 from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
The Sales Ledger Control account opened with a debit balance of ₦500,000. During the year credit sales amounted to ₦2,200,000 and cash receipts from customers were ₦1,800,000. At year‑end the total of the individual customer balances recorded in the Sales Ledger was ₦860,000. An audit later revealed that a customer's account had been over‑credited by ₦20,000 and another customer's balance of ₦20,000 had been omitted. What is the correct closing balance of the Sales Ledger Control account?
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About This Question
This is Waec Model Questions Vol1 2018 Financial Accounting Question 23. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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