JAMB Accounting 2016 Objective — Question 7
Question 7 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2016 Objective paper, with the correct answer and a full explanation.
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7. Debtors in the balance sheet of Onoja Bakery and Sons totalled #800,000. if bad debt is normally 5%, find the amount for sundry debtors after bad debt (a) #760,000 (b) #744,800 (c) #784,000 (d) #744,000
- A. #760,000Correct
- B. #744,800
- C. #784,000
- D. #744,000
Explanation
Sundry debtor = 95% × 800,000 = #760,000.
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