Neco 2018 Financial Accounting Question 27

The Sales Ledger Control Account opened with a debit balance of \\(500,000\\) naira. During the year the following occurred: credit sales of \\(1,200,000\\) naira, cash receipts from debtors of \\(800,000\\) naira, sales returns of \\(50,000\\) naira, and bad debts written off amounting to \\(30,000\\) naira. At year‑end the total of the individual debtor balances in the subsidiary ledger is \\(150,000\\) naira. A provision for doubtful debts equal to 5% of the year‑end receivables (after write‑offs) is required. Determine (a) the balance shown in the Sales Ledger Control Account after posting the above items, and (b) the net receivables that should appear in the trial balance after accounting for the provision.