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 Opening and Closing Balance of Debtors A/c were Rs. 30,000 and 40,000 respectively cash collected from the debtors during the year was Rs. 2,40,000. Discount allowed to debtors for timely payment amounted to Rs. 15,000 and bad debts written off were Rs. 10,00. Goods sold on credit were:
  • a)
    Rs. 2,55,000
  • b)
    Rs. 2,45,000
  • c)
    Rs. 2,95,000
  • d)
    Rs. 2,75,000
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Opening and Closing Balance of Debtors A/c were Rs. 30,000 and 40,000 ...
Calculation of Closing Balance of Debtors A/c:

Cash collected from debtors during the year = Rs. 2,40,000
Discount allowed to debtors = Rs. 15,000
Bad debts written off = Rs. 10,000

Total amount received from debtors = Rs. 2,40,000 + Rs. 15,000 - Rs. 10,000 = Rs. 2,45,000

Closing balance of Debtors A/c = Opening balance + Goods sold on credit - Total amount received from debtors

Closing balance of Debtors A/c = Rs. 30,000 + Goods sold on credit - Rs. 2,45,000

Closing balance of Debtors A/c = Goods sold on credit - Rs. 2,15,000

Since the closing balance of Debtors A/c is Rs. 40,000,

Goods sold on credit = Rs. 40,000 + Rs. 2,15,000 = Rs. 2,55,000

Therefore, the correct option is D) Rs. 2,75,000
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Community Answer
Opening and Closing Balance of Debtors A/c were Rs. 30,000 and 40,000 ...
Correct option is D as all the things are to be credited in debtors a/c so to equal both the sides the difference is Rs. 2,75,000
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Opening and Closing Balance of Debtors A/c were Rs. 30,000 and 40,000 respectively cash collected from the debtors during the year was Rs. 2,40,000. Discount allowed to debtors for timely payment amounted to Rs. 15,000 and bad debts written off were Rs. 10,00. Goods sold on credit were:a)Rs. 2,55,000b)Rs. 2,45,000c)Rs. 2,95,000d)Rs. 2,75,000Correct answer is option 'D'. Can you explain this answer?
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Opening and Closing Balance of Debtors A/c were Rs. 30,000 and 40,000 respectively cash collected from the debtors during the year was Rs. 2,40,000. Discount allowed to debtors for timely payment amounted to Rs. 15,000 and bad debts written off were Rs. 10,00. Goods sold on credit were:a)Rs. 2,55,000b)Rs. 2,45,000c)Rs. 2,95,000d)Rs. 2,75,000Correct answer is option 'D'. Can you explain this answer? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Opening and Closing Balance of Debtors A/c were Rs. 30,000 and 40,000 respectively cash collected from the debtors during the year was Rs. 2,40,000. Discount allowed to debtors for timely payment amounted to Rs. 15,000 and bad debts written off were Rs. 10,00. Goods sold on credit were:a)Rs. 2,55,000b)Rs. 2,45,000c)Rs. 2,95,000d)Rs. 2,75,000Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Opening and Closing Balance of Debtors A/c were Rs. 30,000 and 40,000 respectively cash collected from the debtors during the year was Rs. 2,40,000. Discount allowed to debtors for timely payment amounted to Rs. 15,000 and bad debts written off were Rs. 10,00. Goods sold on credit were:a)Rs. 2,55,000b)Rs. 2,45,000c)Rs. 2,95,000d)Rs. 2,75,000Correct answer is option 'D'. Can you explain this answer?.
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