JAMB Accounting 2015 Objective — Question 22

Question 22 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2015 Objective paper, with the correct answer and a full explanation.

Mini Enterprises Sales Ledger as at 31/12/94 showed: Balance b/f ₦12,750; Total credit sales ₦28,185; Payments by debtors ₦12,112; Discount allowed ₦638; Sales returns ₦1,500. What is the balance due from debtors?

A. ₦40,935
B. ₦27,961
C. ₦26,685Correct
D. ₦1,185

Explanation

Debit side: 12,750+28,185 = 40,935. Credit side: 12,112+638+1,500 = 14,250. Balance c/d = 40,935−14,250 = ₦26,685.

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