Question on: JAMB Accounting - 2024
Debtors and stock balances are given as follows:
| # | # | |
| Debtors | 2000 | 6000 |
| Stock | 1000 | 1300 |
| Discount allowed | 500 | |
| Cash received from debtors | 10000 |
Sales for the year is:
A
#14,000
B
#10,500
C
#14,500
D
#16,500
Ask EduPadi AI for a detailed answer
Correct Option: A
To calculate credit sales:
\(\text{Credit Sales} = \text{Closing Debtors} + \text{Cash Received} + \text{Discount Allowed} - \text{Opening Debtors}\)
\(= 6000 + 10000 + 500 - 2000 = 10,500\)
Total Sales = ₦10,500
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