Neco 2023 Financial Accounting Question 46
Practice objective / multiple choice question 46 from the 2023 Neco Financial Accounting examination.
A cash book shows an opening cash balance of ₦50,000. The cash receipts during the month are: cash sales \(120,000\); cash received from Debtor A \(30,000\); cash received from Debtor B \(20,000\). The cash payments recorded are: payment to Supplier X \(70,000\); wages \(25,000\); utilities \(10,000\). A \(2\%\) cash discount was allowed on the payment to Supplier X but was not recorded. Compute the corrected closing cash balance at the end of the month.
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About This Question
This is Neco 2023 Financial Accounting Question 46. It is one of the objective questions from the 2023 Neco Financial Accounting examination.
Difficulty level: Medium .
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