| ₦ |
₦ |
||
|
Bal. b/f |
3,250 | Bal. b/f. | 215 |
|
Sales |
19,075 | Bank |
16,387.50 |
|
Dishonoured cheque |
625 | Discount | 862.50 |
|
Stopped cheque |
250 | Returns inwards | 325 |
|
Bal c/d |
230 | Set off | 900 |
| Bal c/d |
4740 |
||
| 23,430 |
23430 |
||
|
Bal b/d |
4740 | Bal b/d | 230 |
Dr. Sales Ledger Control Account . Cr
The amount ₦16,378.50 described as "Bank" represents
Receipts from trade debtors only
Cash sales for the month including discount
Receipts from all debtors of the business
Cash sales for the month excluding discount
Correct answer is C
Cheques received source is from bank/cash book. Therefore, the bank represent the receipts from all the debtors of the business. Since the account contains transactions related to all the trade receivable (of all the debtors) in the business.