Waec Model Questions Vol1 2019 Financial Accounting Question 5
Practice objective / multiple choice question 5 from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
The Sales Ledger Control Account (debit side) opened with a balance of ₦150,000. During the year the following transactions were posted: - Credit sales: ₦300,000 - Cash received from debtors (as recorded): ₦317,500 - Sales returns: ₦10,000 - Discount allowed: ₦5,000 After posting these items, the control account shows a debit balance of ₦115,000. However, the total of the individual debtor balances in the subsidiary ledger amounts to ₦117,500, indicating a discrepancy of ₦2,500. Assuming the discrepancy is due to an unrecorded cash receipt, determine the amount of that unrecorded cash receipt.
Answer Options
About This Question
This is Waec Model Questions Vol1 2019 Financial Accounting Question 5. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.