Neco 2025 Financial Accounting Question 11
Practice objective / multiple choice question 11 from the 2025 Neco Financial Accounting examination.
A company's Sales Ledger Control account shows a credit balance of unknown. The subsidiary ledger of three major customers shows balances: Customer A owes \(45,000\), Customer B owes \(30,000\), Customer C owes \(25,000\). During the year the company recorded total credit sales of \(200,000\) and cash receipts from customers of \(150,000\). An audit revealed that a sales invoice of \(12,000\) to Customer B was omitted from the sales ledger, and a payment of \(5,000\) from Customer C was recorded twice in cash receipts. Determine the opening balance of the Sales Ledger Control account at the beginning of the year.
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About This Question
This is Neco 2025 Financial Accounting Question 11. It is one of the objective questions from the 2025 Neco Financial Accounting examination.
Difficulty level: Medium .
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