O-LevelAccountingAccounting procedures7707/11 · Oct/Nov 2015 · Q231 Mark

On 1 January the trade receivables owed $1000 and on 31 December they owed $1500. During the year $5000 was received from credit customers and a debt of $100 was written off. How much were the credit sales for the year?

A$2400

B$2600

C$5400

D$5600

✓ Correct answer

D: $5600

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2015 Paper 1 Variant 1, question 23.

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