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O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2013 · Q91 Mark

During its first month of trading, a business had the following transactions. credit sales $16000 cash sales $3000 goods returned by credit customers $500 cash received from credit customers $14100 cash discounts allowed $650 How much did the credit customers owe the business at the end of the month?

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A$750
B$1400
C$2050
D$3750

✓ Correct answer

A: $750

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About this question

Topic
Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2013 Paper 1 Variant 1, question 9.

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