Discount allowed N2,000;
Bad debts 1,000
Cheque received from customers 24,000
Returns inwards 500;
Sales ledger balance at the beginning 2.000
The amount of sales is
a
N29,500
b
N26,000
c
N25,500
d
24,000
Explanation
Correct Option
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dunutex1
3 years ago
The answer to this question is not correct.
In sales ledger control account we have the Dr. and the Cr. column.
The Dr. column is made up of the the sales opening bal. which is 2000 and cheque received which amount to 24000. When you add the figures together, it will amount to 26000. While the Cr. column is made up of discount allowed 2000, Bad Debts 1000 as well as Returns inwards of 500. Then the sales balancing figure would amount to 22500.
