Question

From the following particulars, calculate the total sales
Opening Debtors - 2,50,000 Bills receivable dishonoured -15,000
Bld
Opening Bills receivable - 60,000 Returns inward -50,000
Cash received from debtors - 7,25,000 Bad debts - 30,000
Closing bills receivables - 90,000 Cash sales - 3,15,000
Cash received for bills receivable - 1,60,000 Closing debtors - 2,40,000​

Answer 1

Answer:

bills receivable account

dr. amt. cr. amt.

balance b/d 60000 B/R

. dishonoured 15000 debtors a/c. 205000cash received 160000 ( balancing ) balance c/d. 90000

total. 265000. total. 265000

Debtors account

balance b/d 250000. B/R drawn 205000

B/R

dishonoured. 15000. return

inward. 50000

bad debt 30000

credit sale. 985000 cash received

from debtors 725000

balance c/d. 240000

total sale = cash sale + credit sale

= 315000+985000

=1300000