JAMB Principles of Accounts 2010 Question 22

Sales Ledger Control Account
Debit: Balance b/d ₦87 000; Credit sales ?; Bills receivable dishonoured ₦58 000; Dishonoured cheques ₦50 000
Credit: Discount allowed ₦40 000; Bills receivable ₦50 000; Cash receivable ₦280 000; Returns inwards ₦30 000; Balance c/d ?
Credit sales is given at 160% of cash received.
Calculate the value of credit sales.

1. A.₦558 000
2. B.₦484 000
3. C.₦448 000
4. D.₦584 000