Accounting WAEC

What was the amount of sales for the year?

Use the following information to answer the given question

#
Debtors (1/1/98) 2,000
Debtors (31/12/98) 1,250
Cash received from debtors 6,000
Bad debt written off 750
Discount allowed 500
Discount received 125

 

A. N8,500
B. N6,625
C. N6,500
D. N6,000

Correct Answer:

Option C – N6,500

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