Neco Model Questions Vol1 2022 Financial Accounting Question 18
Practice objective / multiple choice question 18 from the 2022 Neco Model Questions Vol1 Financial Accounting examination.
The trade receivables control account opened with a debit balance of \(\₦200,000\). During the year the following transactions were recorded:\n- Credit sales: \(\₦480,000\)\n- Sales returns: \(\₦20,000\)\n- Cash received from debtors: \(\₦430,000\)\nAt year‑end a doubtful debt is to be written off. The subsidiary ledger shows that the total of individual debtor balances (excluding the doubtful debt) is \(\₦190,000\), which is \(\₦30,000\) less than the balance shown in the control account before the write‑off. Determine the amount of doubtful debt that must be written off so that the control account agrees with the subsidiary ledger.
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About This Question
This is Neco Model Questions Vol1 2022 Financial Accounting Question 18. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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