Waec Model Questions Vol1 2024 Financial Accounting Question 23
Practice objective / multiple choice question 23 from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
The trade receivables control account of a company opened with a debit balance of ₦2,800,000. During the year credit sales amounted to ₦9,500,000 and cash receipts from customers were ₦8,200,000. Bad‑debt write‑offs during the year totalled ₦150,000. At year‑end the management estimates that 2% of the remaining receivables are doubtful and should be provided for. What is the net balance shown in the trade receivables control account after posting the provision for doubtful debts?
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About This Question
This is Waec Model Questions Vol1 2024 Financial Accounting Question 23. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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