A provision for bad debt account had N33,800 at the beginning of the year and N4,220 at the close of the year. If bad debts are calculated at the rate of 1/20% of annual credit sales, what was the credit sales for the period?
-
A.
N210,000 -
B.
N844,400 -
C.
N840,000 -
D.
N500,000
Correct Answer: Option B
Explanation
1/20 * 844400 = 4220