Question 3
Control AccountsSales Ledger Control Account
Debit side: Balance b/d ?; Sales ₦21,610; Acceptance dishonoured ₦542; Total ₦34,742
Credit side: Discount Allowed ₦968; Sales Returns ₦942; Cash received from customers ?; Balance c/d ₦13,740; Total ₦34,742
What is the total debts at the end of the year?
- A.₦12,590
- B.₦13,740
- C.₦20,668
- D.₦21,610
- E.₦34,742.
Show the answer and explanation
Answer: B (₦13,740)
Explanation
Debts at the end are the closing balance c/d, ₦13,740.