Question on: JAMB Accounting - 2023
|
₦ |
|
|
Debtors opening |
4000 |
| Debtors closing | 1500 |
|
Cash received from debtors |
8500 |
|
Bad debts written off |
350 |
| Discount allowed | 500 |
| Discount received | 1000 |
What is the amount of sales for the year?
A
₦6850
B
₦6650
C
₦3850
D
₦1550
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Correct Option: A
The amount of sales for the year is ₦6,850. To calculate this, we need to add the cash received from debtors, bad debts written off, discount allowed, and discount received: ₦8,500 - ₦350 - ₦500 + ₦1,000 = ₦6,850.
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