| Purchase ledger opening balance | N4,000 |
| sales ledger opening balance | N6,000 |
| credit purchase | N25,000 |
| Discounts allowed | N1,000 |
| Returns inwards | N2,000 |
| Credit sales during the year | N10,000 |
| Return outwards | N6,000 |
A. N13,000
B. N10,000
C. N 6,000
D. N3,000
Correct Answer:
Option A – N13,000
Explanation
The Sales Ledger is your record of sales, and whether or not you have received the money, and how much you are still owed. From the table above, it is derived as;
sales opening balance – discount allowed – returns inwards + credit sales. 6,000 – 1,000 – 2,000 = 3,000 + 10,000 = 13,000
Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…
Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…
Sociology is the scientific study of human society, culture, and behavior. It examines the social…
Social Work is a profession dedicated to helping individuals, families, and communities to cope with…
Religious studies is an academic discipline that explores the beliefs, practices, and history of various…
Public administration is the field of study and practice that focuses on the organization and…