Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

For the trader’s first year of trading, a summary of his bank statements gave these figures: receipts from credit customers: $25000 cash sales takings banked: $82000 Each month, the trader withdrew $2000 from takings as drawings before banking the rest of the takings. At the end of the year, trade receivables were $9500. Calculate the total revenue for the year.

  • A$73500
  • B$92500
  • C$121500
  • D$140500

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