Waec Model Questions Vol1 2019 Financial Accounting Question 16
Practice objective / multiple choice question 16 from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
The Receivables Control Account for the month shows an opening balance of ₦150,000. During the month the company recorded credit sales of ₦420,000 and sales returns of ₦12,000. Cash received from debtors amounted to ₦380,000 and a discount of ₦5,000 was allowed for early payment. What is the closing debit balance of the Receivables Control Account at the end of the month?
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About This Question
This is Waec Model Questions Vol1 2019 Financial Accounting Question 16. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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