Credit sales is given at 160% of cash received.
What is the balance c/d?
debit 64300
-
A.
N333 000 -
B.
N234 000 -
C.
N343 000 -
D.
N243 000
Correct Answer: Option D
Explanation
credit sales = 160% x 280,000 (cash receivable)
(frac{160}{100}) x 280,000
1.6 x 280,000 = 448,000
credit sales = 448,000
Bal c/d = debit side – credit side of the account. Hence we have;
Debit side = 87,000 + 488,000 + 58,000 + 50,000 = 643,000
credit side = 40,000 + 50,000 + 280,000 + 30,000 = 400,000
643,000 – 400,000 = 243,000
Bal c/d = 243,000