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WAEC Financial Accounting 1994 Question 32

Question 32

Control Accounts

Debtors on 1st January was ₦1,490 and sales for the year was ₦5,760. Cash received from debtors during the year was ₦5,410. Bad debt written off was ₦410. Discount allowed amounted to ₦320. What was the debtors' balance at the end of the year?

  1. A.₦1,110
  2. B.₦1,430
  3. C.₦1,520
  4. D.₦1,750
  5. E.₦2,980.
Show the answer and explanation

Answer: A (₦1,110)

Explanation

1,490 + 5,760 − 5,410 − 410 − 320 = ₦1,110.