JAMB Accounts Principles of Accounts 2021 Paper

Concept:Find the missing credit sales using the debtors control account equation.Explanation:Opening debtors balance = ₦25,000.Cheques received from debtors = ₦255,000.Closing debtors balance = ₦15,000.Debtors control account:$$\text{Opening debtors} + \text{Credit sales} - \text{Cheques received} = \text{Closing debtors}$$So:$$\text{Credit sales} = \text{Closing debtors} + \text{Cheques received} - \text{Opening debtors}$$$$\text{Credit sales} = ₦15,000 + ₦255,000 - ₦25,000 = ₦245,000$$Answer:A. ₦245,000