Question 8
Cash BookIn a cash book, the opening balance was ₦7,600, closing balance ₦9,200 and the total cash received during the period was ₦18,000. What was the amount of cash paid out during the period?
- A.₦8,900
- B.₦9,800
- C.₦14,600
- D.₦16,400.
Show the answer and explanation
Answer: D (₦16,400.)
Explanation
Payments = opening 7 600 + receipts 18 000 − closing 9 200 = ₦16 400.