Gce Model Questions Vol1 2017 Financial Accounting Question 26
Practice objective / multiple choice question 26 from the 2017 Gce Model Questions Vol1 Financial Accounting examination.
Company X maintains a Sales Ledger Control account. The opening debit balance on 1 January was £12,500. During the year the following entries were posted: - Credit sales of £45,800 - Cash received from customers £38,200 - Trade discounts allowed £1,500 - Sales returns £2,300 - Bad debts written off £1,200 No other entries were made. What is the closing balance of the Sales Ledger Control account, and is it a debit or credit balance?
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About This Question
This is Gce Model Questions Vol1 2017 Financial Accounting Question 26. It is one of the objective questions from the 2017 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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