Neco 2017 Financial Accounting Question 9
Practice objective / multiple choice question 9 from the 2017 Neco Financial Accounting examination.
A company maintains a Trade Receivables Control Account. The subsidiary ledger balances at 31 December are: A - \( \text{₦}12,000 \), B - \( \text{₦}8,500 \), C - \( \text{₦}15,200 \), D - \( \text{₦}9,300 \). During December the following transactions occurred: a credit sale to A of \( \text{₦}4,000 \); a cash receipt from B of \( \text{₦}3,500 \); a write‑off of D's account as uncollectible for \( \text{₦}2,000 \); and a discount allowed to C of 2 % on its balance. Determine the balance of the Trade Receivables Control Account after posting these transactions.
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About This Question
This is Neco 2017 Financial Accounting Question 9. It is one of the objective questions from the 2017 Neco Financial Accounting examination.
Difficulty level: Medium .
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