₦   ₦ Bal. b/f 3,250 Bal. b/f. 215 Sales 19,075 Bank 16,387.50 Dishonoured...

₦ ₦ Bal. b/f 3,250 Bal. b/f. 215 Sales 19,075 Bank 16,387.50 Dishonoured...

JAMB 2023

	₦		₦
Bal. b/f	3,250	Bal. b/f.	215
Sales	19,075	Bank	16,387.50
Dishonoured cheque	625	Discount	862.50
Stopped cheque	250	Returns inwards	325
Bal c/d	230	Set off	900
		Bal c/d	4740
	23,430		23430
Bal b/d	4740	Bal b/d	230

Dr. Sales Ledger Control Account . Cr

The amount ₦16,378.50 described as "Bank" represents

A. receipts from trade debtors only
B. cash sales for the month including discount
C. receipts from all debtors of the business
D. cash sales for the month excluding discount

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Correct Answer: Option C

Explanation

Cheques received source is from bank/cash book. Therefore, the bank represent the receipts from all the debtors of the business. Since the account contains transactions related to all the trade receivable ( of all the debtors) in the business.

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