Waec Model Questions Vol1 2022 Financial Accounting Question 3
Practice objective / multiple choice question 3 from the 2022 Waec Model Questions Vol1 Financial Accounting examination.
During the year the following transactions affected the Trade Receivables Control Account: - Opening balance (debit): ₦20,000 - Credit sales: ₦800,000 - Cash received from customers: ₦620,000 - Bad‑debt write‑offs: ₦30,000 - The control account shows a closing debit balance of ₦150,000. The subsidiary ledger of individual customers records total balances of ₦140,000 at year‑end. Determine the amount of credit sales that were omitted from the subsidiary ledger.
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About This Question
This is Waec Model Questions Vol1 2022 Financial Accounting Question 3. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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