passwella.
Menu

JAMB Principles of Accounts 2003 Question 39

Question 39

Incomplete Records

Given:
Total debtors b/d 31/12/99 ₦25 000
Cheques received from debtors ₦255 000
Total debtors c/d 31/12/00 ₦15 000
Determine the sales figure.

  1. A.₦295 000
  2. B.₦265 000
  3. C.₦245 000
  4. D.₦215 000
Show the answer and explanation

Answer: C (₦245 000)

Explanation

Credit sales = receipts 255 000 + closing debtors 15 000 − opening debtors 25 000 = ₦245 000.