JAMB Accounting 2022 Objective — Question 25

Question 25 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2022 Objective paper, with the correct answer and a full explanation.

25. The total of the debtors at the beginning of the year was N700 and at the end of the year N750. During the year, N9,500 was given to customers and N90 was given in discounts. The sales for the year would be

A. (A) N9,640
B. (B) N10,340Correct
C. (C) N9,500
D. (D) N10,250

Explanation

Using the debtors control account: bal b/d 700 + credit sales(x) = cash/bank 9,500 + discount allowed 90 + bal c/d 750. Solving gives credit sales = 10,340.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Accounting 2022 Objective More Accounting past papers