Neco 2023 Financial Accounting Question 7
Practice objective / multiple choice question 7 from the 2023 Neco Financial Accounting examination.
At year‑end the Trade Receivables control account shows a closing balance of \( \text{₦}85,000 \). The total of the subsidiary ledger of individual customers is \( \text{₦}78,000 \). During the year a credit note of \( \text{₦}2,500 \) was issued but not posted to the control account, and a cash receipt of \( \text{₦}4,000 \) was posted to the control account but omitted from the subsidiary ledger. What is the amount of the remaining unrecorded error that must be adjusted to bring the control account into agreement with the subsidiary ledger?
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About This Question
This is Neco 2023 Financial Accounting Question 7. It is one of the objective questions from the 2023 Neco Financial Accounting examination.
Difficulty level: Medium .
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