O-LevelAccountingAccounting procedures7707/12 · May/June 2018 · Q231 Mark
A trader does not keep a full set of accounting records. How can he calculate credit sales?
Acheques received from customers + owed by customers at start of year + owed by customers at end of year
Bcheques received from customers + owed by customers at start of year – owed by customers at end of year
Ccheques received from customers – owed by customers at start of year + owed by customers at end of year
Dcheques received from customers – owed by customers at start of year – owed by customers at end of year
✓ Correct answer
C: cheques received from customers – owed by customers at start of year + owed by customers at end of year
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