Neco Model Questions Vol1 2017 Financial Accounting Question 47

The cash book of ABC Enterprises for the month of March 2017 is partially missing. The following totals are known: Cash side - total debits = \(1,200,000\) ₦ Cash side - total credits = \(950,000\) ₦ Closing cash balance (debit) = \(250,000\) ₦ Bank side - total debits = \(400,000\) ₦ Bank side - total credits = \(350,000\) ₦ Closing bank balance (debit) = \(80,000\) ₦ The recorded cash‑book entries (excluding the missing ones) are: - Cash sales: \(600,000\) ₦ (debit) - Cash received from debtors: \(150,000\) ₦ (debit) - Cash purchases: \(300,000\) ₦ (credit) - Rent paid: \(80,000\) ₦ (credit) - Transfer to bank: \(100,000\) ₦ (credit cash, debit bank) - Transfer from bank: \(200,000\) ₦ (debit cash, credit bank) - Payment to creditors: \(120,000\) ₦ (credit) All other transactions are omitted. Determine the amount paid as salaries (recorded as a credit on the cash side).