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WAEC Financial Accounting 2026 Question 20

Question 20

Incomplete Records

Debtors at start was $2,810 and at close was $1,730; cash and cheques received from customers amounted to $8,165. Credit sales for the year was

  1. A.$12,705
  2. B.$7,085
  3. C.$5,355
  4. D.$4,540
Show the answer and explanation

Answer: B ($7,085)

Explanation

Credit sales = receipts + closing debtors − opening debtors = 8,165 + 1,730 − 2,810 = $7,085.