O-LevelAccountingPreparation of financial statements7707/11 · May/June 2025 · Q291 Mark
Janice started trading on 1 January. All her sales were made on a cash basis. During the year, Janice paid wages of $12100 and took drawings of $7800 out of the amount received from customers. She also banked $56000 of these receipts. At the year end, she held $150 of unbanked sales in cash. Which value for Janice's sales was recorded in the income statement?
A$35950
B$36 250
C$75750
D$76050
✓ Correct answer
D: $76050
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