Neco 2024 Commerce Question 38
Practice objective / multiple choice question 38 from the 2024 Neco Commerce examination.
The single‑column cash book for the month shows an opening balance of \(\text{₦}30,000\) (debit). The recorded receipts are: cash sales \(\text{₦}100,000\), loan received \(\text{₦}20,000\) and an unknown receipt X. The payments recorded are: rent \(\text{₦}25,000\), salaries \(\text{₦}35,000\), purchase of inventory \(\text{₦}40,000\) and a miscellaneous expense that was mistakenly entered as a receipt of \(\text{₦}4,000\). The closing balance shown is \(\text{₦}50,000\) (debit). What amount should be entered for the unknown receipt X so that the cash book balances correctly?
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About This Question
This is Neco 2024 Commerce Question 38. It is one of the objective questions from the 2024 Neco Commerce examination.
Difficulty level: Hard .
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