Neco 2022 Financial Accounting Question 13
Practice objective / multiple choice question 13 from the 2022 Neco Financial Accounting examination.
The sales ledger control account shows a closing balance of \\(820,000\\) Naira. The subsidiary ledger of three customers records the following outstanding balances: Customer A - \\(300,000\\) Naira, Customer B - \\(250,000\\) Naira, Customer C - \\(260,000\\) Naira. During the period it was discovered that (i) a credit note of \\(20,000\\) Naira was issued to Customer B and recorded in the control account but omitted from the subsidiary ledger, and (ii) a payment of \\(30,000\\) Naira from Customer C was recorded in the subsidiary ledger but omitted from the control account. Determine the corrected closing balance of the sales ledger control account.
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About This Question
This is Neco 2022 Financial Accounting Question 13. It is one of the objective questions from the 2022 Neco Financial Accounting examination.
Difficulty level: Medium .
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