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JAMB Principles of Accounts 1997 Question 23

Question 23

Control Accounts

In the absence of a sales day book or sales account, the credit for sales can be computed from

  1. A.creditors control account
  2. B.debtors control account
  3. C.opening figures of the balance sheet
  4. D.closing figures of the balance sheet.
Show the answer and explanation

Answer: B (debtors control account)

Explanation

Credit sales are debited to the debtors control account, so they can be found as its missing figure.