Gce Model Questions Vol1 2022 Financial Accounting Question 30
Practice objective / multiple choice question 30 from the 2022 Gce Model Questions Vol1 Financial Accounting examination.
The Sales Ledger Control Account for the year ended 31 March shows an opening debit balance of \(\text{₦}8,500\). During the year credit sales amounted to \(\text{₦}45,000\) and cash received from debtors was \(\text{₦}38,000\). Bad debts written off totalled \(\text{₦}1,200\). At year‑end the outstanding debtor balances are: - A: \(\text{₦}5,000\) - B: \(\text{₦}3,500\) - C: \(\text{₦}4,200\) - D: \(\text{₦}1,600\) Determine the closing balance of the Sales Ledger Control Account and state whether it is a debit or credit balance.
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About This Question
This is Gce Model Questions Vol1 2022 Financial Accounting Question 30. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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