Waec Model Questions Vol1 2023 Financial Accounting Question 49
Practice objective / multiple choice question 49 from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
The Sales Ledger Control (SLC) account carried a debit balance of ₦250,000 on 31 December 2023. The subsidiary sales ledger listed customer balances as follows (all debit): A ₦45,000, B ₦30,000, C ₦55,000, D ₦20,000, E ₦40,000. During the year a cash receipt of ₦15,000 was mistakenly posted as a credit to the SLC instead of the Cash Book, and a sales return of ₦10,000 that should have been debited to the SLC was omitted. Determine the corrected balance of the SLC and the amount of discrepancy that should be investigated by comparing with the subsidiary ledger total.
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About This Question
This is Waec Model Questions Vol1 2023 Financial Accounting Question 49. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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