| ₦ | ₦ | ||
| 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
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Correct Answer: Option C
Explanation:
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.
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.