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JAMB Principles of Accounts 1999 Question 29

Question 29

Not-for-Profit Organisations

Given:
(₦)
Club debtors at start 150
Cash sales 4,850
Club debtors at close 900
Cash received from debtors 550
What is the amount of club sales?

  1. A.₦6,150
  2. B.₦4,850
  3. C.₦4,650
  4. D.₦1,300
Show the answer and explanation

Answer: A (₦6,150)

Explanation

Credit sales = 550 + 900 − 150 = 1 300. Total sales = cash 4 850 + credit 1 300 = ₦6 150.