Post Utme Abu 2020 Accounting Question 6

A company uses the single entry system of accounting. The following transactions were recorded in the journal: 1. Purchased office equipment for ₦ 120,000. 2. Sold goods for ₦ 150,000. 3. Purchased raw materials for ₦ 80,000. 4. Paid salaries of ₦ 30,000. 5. Collected cash from customers for ₦ 200,000. 6. Paid rent for ₦ 20,000. 7. Purchased factory equipment for ₦ 180,000. 8. Sold factory equipment for ₦ 120,000. 9. Purchased office supplies for ₦ 10,000. 10. Collected cash from customers for ₦ 50,000. The journal entries were posted to the ledger. The ledger accounts are as follows: Office Equipment: ₦ 120,000. Raw Materials: ₦ 80,000. Salaries: ₦ 30,000. Cash: ₦ 350,000. Rent: ₦ 20,000. Factory Equipment: ₦ 180,000. Office Supplies: ₦ 10,000. What is the total amount of cash received from customers?