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The Closing Balance Should Equal £15,050 When Added Together

Question 9

Multiple Choice

The closing balance should equal £15,050 when added together
The sales ledger control account at 1 December had balances of £12,750 debit and £275 credit. During December sales of £25,000 were made on credit. Receipts from debtors amounted to £22,500 and cash discounts of £55 were allowed. Refunds of £130 were made to customers. The closing balances at the end of May could be:


A) £15,090 debit and £300 credit
B) £15,410 debit and £250 credit
C) £15,250 debit and £200 credit
D) £14,890 debit and £100 credit

Correct Answer:

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