At the beginning of an accounting period, a firm was owed £900 by its debtors. At the end of the same accounting period, the firm’s debtors owed £1,500.
During the period, bad debt of £100 was written off and £5,000 was received from credit customers.
The total of the firm’s credit sales for the period was?
Select ONE answer:
- £3,700
- £4,200
- £5,700
- £5,900
Show your workings to arrive at your answer, and explain and justify your reasons:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple-choice question is suitable for Accounting KS5 classes.
The answer is 3
- Not correct
- Not correct
- Correct
- Not Correct
Answer 3:
Debtors
Dr Balance b/d £900
Dr Sales (Credit) £5,700
Dr Totals £6,600
Cr Bank £5,000
Cr Bad Debts £100
Cr Balance c/d £1,500
Cr Totals £6,600
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