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WAEC Financial Accounting 2017 Question 21

Question 21

Control Accounts

Use the following information: Sales ledger balances 01/06/12 D9,000; 30/06/12 D30,000. Total for the month: Cash sales D10,000; Returns inwards D3,000; Cheque dishonoured D4,000.
The total sales for the month is

  1. A.D36,000.
  2. B.D31,000.
  3. C.D30,000.
  4. D.D20,000.
Show the answer and explanation

Answer: C (D30,000.)

Explanation

Total sales = credit sales 20,000 + cash sales 10,000 = D30,000.