GCE Financial Accounting 1989 Question 19

Sales Ledger Control Account (1986)
Debit side: Jan. 1 Balance b/d ₦1,300; Jan. 31 Sales ₦7,630; Dishonoured Cheques ₦250; Stopped Cheques ₦100; Balance c/d ₦92; Total ₦9,372
Credit side: Jan. 1 Balance b/d ₦86; Bank ₦6,555; Discounts ₦345; Returns ₦130; Purchases Ledger ₦360; Balance c/d ₦1,896; Total ₦9,372
Feb. 1 Balance b/d ₦1,896 (debit); Feb. 1 Balance b/d ₦92 (credit)

The balance of ₦92 represents the I. amount necessary to balance the account II. sum due to the customers III. amount due from the customers.

1. A.I only
2. B.II only
3. C.III only
4. D.I and II only
5. E.I and III only.