Neco 2017 Financial Accounting Question 23
Practice objective / multiple choice question 23 from the 2017 Neco Financial Accounting examination.
The cash book (bank column) shows an opening balance of \(\text{₦}20,000\). During the month the following cash transactions were recorded:\n1. Receipt from Customer A \(\text{₦}12,500\)\n2. Payment of rent \(\text{₦}4,800\)\n3. Receipt from sale of equipment \(\text{₦}8,000\)\n4. Payment of utilities \(\text{₦}1,200\)\n5. Receipt from Customer B \(\text{₦}?\) (unknown)\n6. Payment of salaries \(\text{₦}6,500\)\n7. A payment of \(\text{₦}2,000\) was mistakenly recorded as a receipt.\nIf the closing cash balance should be \(\text{₦}30,000\), determine the amount received from Customer B.
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About This Question
This is Neco 2017 Financial Accounting Question 23. It is one of the objective questions from the 2017 Neco Financial Accounting examination.
Difficulty level: Medium .
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