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Credit sales is given at 160% of cash received. What is the balance c/d? debit...

Accounts - Principles of Accounts
JAMB 2010

Credit sales is given at 160% of cash received.

What is the balance c/d?

debit 64300

 

  • A. N333 000
  • B. N234 000
  • C. N343 000
  • D. N243 000
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Correct Answer: Option D
Explanation

credit sales = 160%  x 280,000 (cash receivable)

\(\frac{160}{100}\) x 280,000

1.6 x 280,000 = 448,000

credit sales = 448,000

Bal c/d = debit side - credit side of the account. Hence we have;

Debit side = 87,000 + 488,000 + 58,000 + 50,000 = 643,000

credit side = 40,000 + 50,000 + 280,000 + 30,000 = 400,000

643,000 - 400,000 = 243,000

Bal c/d = 243,000


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