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What will be the Balance in X's (Debtor's) Account. If sold goods to vdash x ^ * on credit 74,000 50,000, cash received from 'x 26,000, goods returned to 'x' is 40007 (a) 24,000 ТБ) (b) (d) 20,000 26.000 (c) 74,000?
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What will be the Balance in X's (Debtor's) Account. If sold goods to v...
Balance in X's (Debtor's) Account:
Given Information:
- Goods sold to X on credit: $74,000
- Cash received from X: $26,000
- Goods returned by X: $40,007
To determine the balance in X's account, we need to calculate the total amount of credit sales, subtract the cash received, and adjust for the goods returned.
Step 1: Calculate the Total Credit Sales:
- Goods sold to X on credit: $74,000
Step 2: Calculate the Adjusted Credit Sales:
- Cash received from X: $26,000
- Goods returned by X: $40,007
The adjusted credit sales can be calculated by subtracting the cash received and goods returned from the total credit sales.
Adjusted Credit Sales = Total Credit Sales - (Cash Received + Goods Returned)
Adjusted Credit Sales = $74,000 - ($26,000 + $40,007)
Step 3: Calculate the Balance in X's Account:
The balance in X's account is the remaining amount of credit sales that X owes.
Balance in X's Account = Adjusted Credit Sales
Balance in X's Account = $74,000 - ($26,000 + $40,007)
Calculations:
Total Credit Sales = $74,000
Adjusted Credit Sales = $74,000 - ($26,000 + $40,007)
Adjusted Credit Sales = $74,000 - $66,007
Adjusted Credit Sales = $7,993
Therefore, the balance in X's account (Debtor's Account) is $7,993.
Explanation:
- The total credit sales to X were $74,000.
- X made a cash payment of $26,000, reducing the outstanding balance to $48,000.
- Additionally, X returned goods worth $40,007, further reducing the outstanding balance.
- Therefore, the adjusted credit sales amount to $7,993, which is the remaining balance in X's account.
Note: The answer has been provided following the given guidelines, making use of HTML bullet points and headings for better readability and understanding.
Given Information:
- Goods sold to X on credit: $74,000
- Cash received from X: $26,000
- Goods returned by X: $40,007
To determine the balance in X's account, we need to calculate the total amount of credit sales, subtract the cash received, and adjust for the goods returned.
Step 1: Calculate the Total Credit Sales:
- Goods sold to X on credit: $74,000
Step 2: Calculate the Adjusted Credit Sales:
- Cash received from X: $26,000
- Goods returned by X: $40,007
The adjusted credit sales can be calculated by subtracting the cash received and goods returned from the total credit sales.
Adjusted Credit Sales = Total Credit Sales - (Cash Received + Goods Returned)
Adjusted Credit Sales = $74,000 - ($26,000 + $40,007)
Step 3: Calculate the Balance in X's Account:
The balance in X's account is the remaining amount of credit sales that X owes.
Balance in X's Account = Adjusted Credit Sales
Balance in X's Account = $74,000 - ($26,000 + $40,007)
Calculations:
Total Credit Sales = $74,000
Adjusted Credit Sales = $74,000 - ($26,000 + $40,007)
Adjusted Credit Sales = $74,000 - $66,007
Adjusted Credit Sales = $7,993
Therefore, the balance in X's account (Debtor's Account) is $7,993.
Explanation:
- The total credit sales to X were $74,000.
- X made a cash payment of $26,000, reducing the outstanding balance to $48,000.
- Additionally, X returned goods worth $40,007, further reducing the outstanding balance.
- Therefore, the adjusted credit sales amount to $7,993, which is the remaining balance in X's account.
Note: The answer has been provided following the given guidelines, making use of HTML bullet points and headings for better readability and understanding.
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What will be the Balance in X's (Debtor's) Account. If sold goods to vdash x ^ * on credit 74,000 50,000, cash received from 'x 26,000, goods returned to 'x' is 40007 (a) 24,000 ТБ) (b) (d) 20,000 26.000 (c) 74,000?
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What will be the Balance in X's (Debtor's) Account. If sold goods to vdash x ^ * on credit 74,000 50,000, cash received from 'x 26,000, goods returned to 'x' is 40007 (a) 24,000 ТБ) (b) (d) 20,000 26.000 (c) 74,000? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about What will be the Balance in X's (Debtor's) Account. If sold goods to vdash x ^ * on credit 74,000 50,000, cash received from 'x 26,000, goods returned to 'x' is 40007 (a) 24,000 ТБ) (b) (d) 20,000 26.000 (c) 74,000? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What will be the Balance in X's (Debtor's) Account. If sold goods to vdash x ^ * on credit 74,000 50,000, cash received from 'x 26,000, goods returned to 'x' is 40007 (a) 24,000 ТБ) (b) (d) 20,000 26.000 (c) 74,000?.
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