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SSC Financial and Cost Accounting P-1 QUESTION #9640
Question 1
In the Debtors Account under the Single Entry conversion, if Opening Debtors = Rs. 12,000; Credit Sales = Rs. 55,000; Cash Received from Debtors = Rs. 45,000; Discount Allowed = Rs. 3,000; Bad Debts = Rs. 1,500; what is the Closing Debtors balance?
  • Rs. 17,500✔️
  • Rs. 19,000
  • Rs. 16,000
  • Rs. 21,000
Correct Answer Explanation
Closing Debtors = Opening Debtors + Credit Sales – Cash Received – Discount Allowed – Bad Debts = 12,000 + 55,000 – 45,000 – 3,000 – 1,500 = Rs. 17,500.