A-LevelAccountingPreparation of financial statements9706/12 · May/June 2022 · Q131 Mark
A business owner does not maintain a full set of accounting records. At the end of the financial year the following information is available. trade payables opening balance $22500 closing balance $27400 returns outwards $1000 payments to trade payables $110600 There were no cash purchases. The opening and closing inventory has remained at the same amount. What was the amount of the cost of sales?
A$105700
B$106700
C$115500
D$116500
✓ Correct answer
C: $115500
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