Accounting JAMB

When Your Silence Is Loud.. and Your Eyes Speaking Volumes.. Calculate the value of credit sales.

A. N484 000
B. N448000
C. N584 000
D. N558 000

Correct Answer:

Option B – N448000

Explanation

credit sales = 160% x 280,000 (cash receivable)

160/100 x 280,000

1.6 x 280,000 = 448,000

credit sales = 448,000

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