WAEC Accounting 2018 Objective — Question 33

Question 33 of 50 from the West African Examinations Council (WAEC) Accounting 2018 Objective paper, with the correct answer and a full explanation.

Credit sales for 2016 is [given trade debtors and cheques received data]

A. D530,000
B. D370,000Correct
C. D350,000
D. D330,000

Explanation

Using the debtors control account: Opening 80,000 + Credit sales − Cash received (350,000) = Closing 100,000; Credit sales = 100,000+350,000−80,000 = D370,000.

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