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Opening balance of debtors Rs 32600; total sales Rs 103000; cash collected from debtors Rs 70000; sales return Rs 1500; discount on purchase Rs 1200; cash sale Rs 43000; bad debts Rs 700. Find closing debtors?
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Opening balance of debtors Rs 32600; total sales Rs 103000; cash colle...
Calculation of Closing 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 purchase: Rs 1,200

  • Cash sale: Rs 43,000

  • Bad debts: Rs 700



Calculation of Net Sales


Net sales are the total sales after deducting sales returns and discounts.



  • Gross Sales: Rs 1,03,000

  • Sales Return: Rs 1,500

  • Discount on Purchase: Rs 1,200

  • Net Sales: Rs (1,03,000-1,500-1,200) = Rs 1,00,300



Calculation of Total Amount Receivable from Debtors


The total amount receivable from debtors can be calculated by subtracting cash collected from debtors and bad debts from the opening balance of debtors and adding net sales.



  • Opening Balance of Debtors: Rs 32,600

  • Net Sales: Rs 1,00,300

  • Cash Collected from Debtors: Rs 70,000

  • Bad Debts: Rs 700

  • Total Amount Receivable from Debtors: (32,600 + 1,00,300 - 70,000 - 700) = Rs 63,200



Calculation of Closing Debtors


Closing debtors can be calculated by subtracting cash collected from debtors and bad debts from the total amount receivable from debtors.



  • Total Amount Receivable from Debtors: Rs 63,200

  • Cash Collected from Debtors: Rs 70,000

  • Bad Debts: Rs 700

  • Closing Debtors: (63,200 - 70,000 - 700) = Rs -1,500



As the closing debtors are negative, it means that the company has received more cash from debtors than the amount it was supposed to receive. This could be due to overpayments by some debtors.
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Opening balance of debtors Rs 32600; total sales Rs 103000; cash collected from debtors Rs 70000; sales return Rs 1500; discount on purchase Rs 1200; cash sale Rs 43000; bad debts Rs 700. Find closing debtors?
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