Neco Model Questions Vol1 2025 Financial Accounting Question 28
Practice objective / multiple choice question 28 from the 2025 Neco Model Questions Vol1 Financial Accounting examination.
The Trade Receivables Control Account for ABC Ltd shows an opening balance of \(\text{₦}80,000\). During the year the following transactions occurred:\n- Credit sales: \(\text{₦}500,000\)\n- Cash receipts from debtors: \(\text{₦}380,000\)\n- Sales returns: \(\text{₦}20,000\)\n- Discount allowed: \(\text{₦}5,000\)\nA provision for doubtful debts of 3 % of the closing balance is required. What is the net realizable value of trade receivables shown in the control account at year‑end?
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This is Neco Model Questions Vol1 2025 Financial Accounting Question 28. It is one of the objective questions from the 2025 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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