Neco 2025 Financial Accounting Question 39
Practice objective / multiple choice question 39 from the 2025 Neco Financial Accounting examination.
The cash book for June shows the following totals (all figures in Naira): Receipts: Cash sales 120,000; Collections from debtors 45,000; Loan received 30,000; Discount received 2,000. Payments: Purchases paid 80,000; Salaries paid 25,000; Rent paid 10,000; Interest paid 1,800; Drawings 5,000; Discount allowed 1,200. The cash book is balanced with a closing overdraft of N5,000. Determine the opening balance of the cash book.
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About This Question
This is Neco 2025 Financial Accounting Question 39. It is one of the objective questions from the 2025 Neco Financial Accounting examination.
Difficulty level: Medium .
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