JAMB Accounting 2012 Objective — Question 26

Question 26 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2012 Objective paper, with the correct answer and a full explanation.

Use the information below to answer questions 26 and 27. Cash Book (Extract) Balance b/f 2,200; Receipt from Customers 16,400 | Sundry expenses 16,800; Drawings 4,700; Suppliers 16,400 Debtors opening and closing balances amount to ₦6,500 and ₦7,600 respectively. What is the sales value?

A. ₦15,300
B. ₦17,500Correct
C. ₦29,400
D. ₦31,600

Explanation

Debtors control a/c: Bal b/d 6,500 + Sales (balancing figure) = Cash received 16,400 + Bal c/d 7,600. Sales = 16,400+7,600−6,500 = ₦17,500.

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