JAMB Accounting 2010 Objective — Question 10

Question 10 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2010 Objective paper, with the correct answer and a full explanation.

10. Calculate the cash balance after the discount to Fatima. A. 2,760 B. 4,300 C. 6,200 D. 2,400

A. 2,760Correct
B. 4,300
C. 6,200
D. 2,400

Explanation

Total debit = N(3,000 + 1,000 + 1,860 + 200) = N6,160. Total credit = N(200 + 300 + 200) = N3,400. Balance = N6,160 - N3,400 = N2,760.

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