A sales ledger control account showed a debit balance of $15000.
The following errors were discovered.
1 Returns outwards, $200, had been credited in the sales ledger control account.
2 A contra entry with the purchases ledger control account, $400, had been debited in the sales ledger control account.
3 A customer balance, $300, had been written off in the sales ledger control account but no entry had been made in the sales ledger.
Which figure for trade receivables should appear in the statement of financial position?

Q: What topic does this question test?

This question tests Control Accounts in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

Q: Which exam paper is this question from?

This question appeared in the Cambridge A-Level Accounting Oct/Nov 2021 examination, Paper 1 Variant 2 (9706_w21_qp_12.pdf).

Question

A sales ledger control account showed a debit balance of $15000.
The following errors were discovered.
1 Returns outwards, $200, had been credited in the sales ledger control account.
2 A contra entry with the purchases ledger control account, $400, had been debited in the sales ledger control account.
3 A customer balance, $300, had been written off in the sales ledger control account but no entry had been made in the sales ledger.
Which figure for trade receivables should appear in the statement of financial position?

Oracle Prep · Accepted Answer

The correct answer is A: $14400.

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