Can you explain the answer of this question below:
From the following information ascertain the closing balance of debtors:
Opening balance of debtors Rs. 32,600; total sales Rs. 1,03,000; cash collected from debtors Rs. 70,000 sales return Rs.1,500; discount on purchases Rs. 1,200; cash sales Rs. 43,000; bad debts Rs. 700:
Opening balance of debtors Rs. 32,600; total sales Rs. 1,03,000; cash collected from debtors Rs. 70,000 sales return Rs.1,500; discount on purchases Rs. 1,200; cash sales Rs. 43,000; bad debts Rs. 700:
- A:Rs. 19,200
- B:Rs. 20,400
- C:Rs. 63,400
- D:Rs. 21,900
The answer is b.
Related Test
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Shaheen Fatma
Sep 21, 2018 |
Debtors a/c=Debit side in so opening debtors +credit sale -(cash received +sale return + bad debts) in credit side=closing debtors.....32600+60000 - (70000+1500+700) =20400
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Yogesh Sharma
Nov 25, 2018 |
Assumption has to be made whether sales return is out if cash sales or credit sales. If it is credit sales than option 'b' otherwise option 'd' will be correct.
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Srsps
Feb 17, 2022 |
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Debtors a/c=Debit side in so opening debtors +credit sale -(cash received +sale return + bad debts) in credit side=closing debtors
32600+60000 - (70000+1500+700) =20400
32600 + 60000 - 70000 - 1500 - 700 = 20400
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32600 + 60000 - 70000 - 1500 - 700 = 20400
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