A firm listed its debtors balances. These totalled £29,175. The balance on the firm’s sales ledger control account did not agree with this total. Upon investigation, the following errors were discovered.
- A credit balance of £80 on one debtor’s account in the sales ledger had been listed as a debit balance.
- A debit balance of £67 on another debtor’s account in the sales ledger had been listed as a credit balance.
- £220 received from a debtor had been entered in the purchases ledger instead of the sales ledger.
- The list of balances had been overcast by £72.
The correct (debit) balance on the sales ledger control account is?
Select ONE answer:
- £28,857
- £28,870
- £29,001
- £29,297
Show your workings to arrive at your answer, and explain and justify your reasons:
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This multiple-choice question is suitable for Accounting KS5 classes.
The answer is 1
- Correct – £29,175 – (£80 x 2) + (£67 x 2) – £220 – £72 = £28,857
- Not correct
- Not correct
- Not correct
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