Waec Model Questions Vol1 2022 Financial Accounting Question 6
Practice objective / multiple choice question 6 from the 2022 Waec Model Questions Vol1 Financial Accounting examination.
The Sales Ledger Control Account for the month shows an opening debit balance of ₦120,000. During the month total credit sales were ₦350,000, cash receipts from customers amounted to ₦300,000 and sales returns (credit) were ₦20,000. The closing balance shown is a debit of ₦150,000. The subsidiary ledger for Customer X shows an opening debit balance of ₦15,000 and a closing debit balance of ₦25,000. It is known that Customer X made no sales returns and that the cash receipts received from Customer X represent 8 % of the total cash receipts. Determine the amount of credit sales made to Customer X during the month.
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About This Question
This is Waec Model Questions Vol1 2022 Financial Accounting Question 6. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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