Gce Model Questions Vol1 2018 Financial Accounting Question 50
Practice objective / multiple choice question 50 from the 2018 Gce Model Questions Vol1 Financial Accounting examination.
The Trade Receivables Control Account for XYZ Ltd opened with a debit balance of \(60,000\). During the period credit sales amounted to \(120,000\). Cash receipts recorded in the cash receipts journal total \(95,000\), but a receipt of \(5,000\) was omitted. A credit note for sales returns of \(3,000\) was not posted to the control account. At the end of the period the control account shows a debit balance of \(25,000\). What should be the correct debit balance after correcting the omitted receipt and the unposted credit note?
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About This Question
This is Gce Model Questions Vol1 2018 Financial Accounting Question 50. It is one of the objective questions from the 2018 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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