Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

On 31 December 2021, the sales ledger control account showed a balance of $19100, whereas the total of the balances in the sales ledger came to $20900. After the mistakes had been found, the following reconciliation statement was drawn up. Sales ledger control account balance: $19100 Credit sales left out of the sales journal: $1600 Discount allowed recorded too low in the sales ledger: $200 Sum of the balances in the sales ledger: $20900 What should the total trade receivables be, as reported in the statement of financial position?

  • A$17500
  • B$18900
  • C$19300
  • D$20700

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