Neco Model Questions Vol1 2023 Financial Accounting Question 32
Practice objective / multiple choice question 32 from the 2023 Neco Model Questions Vol1 Financial Accounting examination.
The Receivables Control account opened with a debit balance of \(\text{₦}150,000\). During the year the following were recorded: credit sales of \(\text{₦}120,000\), cash receipts of \(\text{₦}90,000\), sales returns of \(\text{₦}5,000\) and bad debts written off of \(\text{₦}3,000\). At year‑end the control account shows a debit balance of \(\text{₦}180,000\). Assuming one credit sale was omitted from the records, determine the amount of that missing sale.
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About This Question
This is Neco Model Questions Vol1 2023 Financial Accounting Question 32. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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