Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

For the year ended 31 December, a company has the following data. Opening balance on sales ledger control account: $31\,000$ Closing balance on sales ledger control account: $35\,000$ Discount allowed: $2\,300$ Credit sales: $125\,400$ What amount was received from credit customers?

  • A$119\,100$
  • B$123\,700$
  • C$127\,100$
  • D$131\,700$

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