Use the following information to answer the given questio...
Use the following information to answer the given question:
SALES LEDGER CONTROL ACCOUNT \(\begin{array}{c|c} 1986 & & N & 1986 & & N \\ \hline Jan. 1 & \text{Balance b/d} & 1,300 & Jan.1 & \text{Balance b/d} & 86 \\ 31 & sales & 7,630 & & bank & 6,555 \\ & \text{dishonoured cheques} & 250 & & discount& 345 \\ & \text{stopped cheques} & 100 & & returns & 130 \\ & \text{balance c/d} & 92 & & \text{Purchases ledger} & 360 \\ & & & & \text{balance c/d} & 1,896 \\ & & 9,372 & & & 9,372 \\ Feb. 1 & \text{balance b/d} & 1,896 & Feb.1 & \text{balance b/d} & 92 \end{array}\)
The sum of N6,555 described as 'Bank' represents
Cash sales for the month, including discounts
Cash sales for the month excluding discounts
Receipts from trade debtors only
Receipts from all the debtors of the business
Takings from both cash and credit sales
Correct answer is C
No explanation has been provided for this answer.
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