Waec Model Questions Vol1 2021 Financial Accounting Question 6
Practice objective / multiple choice question 6 from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
The journal for the month records five transactions. The debit amounts are ₦45,000, ₦12,500, an unknown amount X, ₦8,000 and ₦15,000. The credit amounts are ₦30,000, an unknown amount Y, ₦20,000, ₦10,000 and ₦20,500. The cash book shows total cash receipts of ₦55,000, which equal the sum of the cash‑related debit entries in the journal. It is known that the first and fourth debit entries are cash receipts. Also, the total of all debit entries must equal the total of all credit entries. Determine the unknown debit amount X.
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About This Question
This is Waec Model Questions Vol1 2021 Financial Accounting Question 6. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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