Gce Model Questions Vol1 2019 Financial Accounting Question 38
Practice objective / multiple choice question 38 from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
The debtors (sales ledger) of ABC Co had an opening balance of \(£12{,}000\). During the year the following transactions occurred: - Credit sales: \(£80{,}000\) - Sales returns (credit): \(£5{,}000\) - Cash received from debtors: \(£50{,}000\) - Discount allowed on the cash receipts: \(2\%\) of the cash received - Bad debts written off: \(£2{,}000\) Determine the closing balance of debtors at year‑end.
Answer Options
About This Question
This is Gce Model Questions Vol1 2019 Financial Accounting Question 38. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.