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WAEC Financial Accounting 2019 Question 40

Question 40

Control Accounts

Debtors balance (01/01/16) - Le 2,518; Cash received - Le 10,000; Discount allowed - Le 280; Interest charged to debtors Le 63; Debtors balance (30/06/16) - Le 1,450. The credit sales is

  1. A.Le 11,730.
  2. B.Le 9,149.
  3. C.Le 2,581.
  4. D.Le 2,518
Show the answer and explanation

Answer: B (Le 9,149.)

Explanation

10,000 + 280 + 1,450 − 2,518 − 63 = Le 9,149.