Waec Model Questions Vol1 2021 Financial Accounting Question 36
Practice objective / multiple choice question 36 from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
The Sales Ledger for June opened with a debit balance of ₦120,000. During the month the following entries were posted:\n1. Credit sales of ₦250,000 (debit).\n2. Cash receipts of ₦180,000 (credit).\n3. Sales returns of ₦15,000 (credit).\n4. Discount allowed of ₦5,000 (credit).\nAt month‑end the ledger is required to show a credit balance of ₦30,000. What amount of a missing credit entry must be posted to achieve the required closing balance?
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About This Question
This is Waec Model Questions Vol1 2021 Financial Accounting Question 36. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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