Question 5
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 cash received from customers?
- A.₦19,092
- B.₦19,700
- C.₦20,668
- D.₦21,002
- E.₦21,610.
Show the answer and explanation
Answer: A (₦19,092)
Explanation
Cash = 34,742 − 968 − 942 − 13,740 = ₦19,092.