A-LevelAccountingReconciliation and verification9706/12 · Oct/Nov 2013 · Q121 Mark

During the financial year a business receives $620000 from its trade receivables after allowing cash discounts of $30000. At the start of the year trade receivables owed $47000. At the end of the year trade receivables owed $40000. What was the amount of credit sales made during the year?

A$613000

B$627000

C$643 000

D$657000

✓ Correct answer

C: $643 000

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Topic: Reconciliation and verification, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2013 Paper 1 Variant 2, question 12.

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During the financial year a business receives $620000 from its trade receivables after allowing cash discounts of $30000. At the start of the year trade receivables owed $47000. At the end of the year trade receivables owed $40000. What was the amount of credit sales made during the year?

✓ Correct answer

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