Neco 2018 Financial Accounting Question 47
Practice objective / multiple choice question 47 from the 2018 Neco Financial Accounting examination.
A two‑column cash book for the month shows an opening balance of \(\text{₦}25,000\) on the debit side. The following items were recorded: cash sales of an unknown amount \(S\), cash received from debtors \(\text{₦}18,750\), cash purchases \(\text{₦}12,400\), cash paid to creditors \(\text{₦}9,600\), and a bank overdraft interest charge of \(\text{₦}350\) entered on the debit side. A cash receipt of \(\text{₦}3,200\) was mistakenly entered on the credit side as a payment. The cash book closes with a debit balance of \(\text{₦}28,500\). Determine the actual cash sales \(S\) for the month.
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About This Question
This is Neco 2018 Financial Accounting Question 47. It is one of the objective questions from the 2018 Neco Financial Accounting examination.
Difficulty level: Medium .
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