WAEC Financial Accounting 1994 Question 26

Question 26

Control Accounts

Debtors at start was ₦5,620 and at close ₦3,460. Cash and cheques received from customers amounted to ₦16,330. Credit sales for the year valued

  1. A.₦3,460
  2. B.₦5,620
  3. C.₦14,170
  4. D.₦16,330
  5. E.₦18,490.
Show the answer and explanation

Answer: C (₦14,170)

Explanation

16,330 + 3,460 − 5,620 = ₦14,170.