Question

Question No. 1 to Question No. 3:
The following information are available for Max. Ltd.
Monthly sales in the year 2020:
April - Rs. 1,00.000
May - Rs. 1.20.000
June - Rs. 90.000
July - Rs. 1.05.000
August - Rs. 1.25.000
20% of sales are made in cash.
Debtors are allowed two months' credit but receive 5% cash discount if they pay off their dues within
the month next to the month of sale.
4/5th of the debtors normally clear their dues to avail the cash discount.
Remaining debtors pay on the due date.

Question No.-1
Collection from debtors for the month of June is,
(a). Rs. 72.000
(b).Rs.76.800.
(c) Rs.88.960.
(d) Rs. 72.960

Question No.- 2.
Collection from debtors for the month of July is.
(a). Rs.57.600.
(b) Rs.73.920
(c). Rs.54.720.
(d). Rs. 84.000

Question No.- 3.
Collection from debtors for thw month of August is.
(a). Rs.78.240
(b). Rs.63.840
(c). Rs.67.200
(d). Rs. 1.00.000​

Answer 1

Answer:

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Answer 2

The following information are available for Max. Ltd.

Monthly sales in the year 2020:

April - Rs. 1,00.000

May - Rs. 1.20.000

June - Rs. 90.000

July - Rs. 1.05.000

August - Rs. 1.25.000

20% of sales are made in cash.

Debtors are allowed two months' credit but receive 5% cash discount if they pay off their dues within

the month next to the month of sale.

4/5th of the debtors normally clear their dues to avail the cash discount.

Remaining debtors pay on the due date.

Question No.-1

Collection from debtors for the month of June is,

(a). Rs. 72.000

(b).Rs.76.800.

(c) Rs.88.960.

(d) Rs. 72.960

Question No.- 2.

Collection from debtors for the month of July is.

(a). Rs.57.600.

(b) Rs.73.920

(c). Rs.54.720.

(d). Rs. 84.000

Question No.- 3.

Collection from debtors for thw month of August is.

(a). Rs.78.240

(b). Rs.63.840

(c). Rs.67.200

(d). Rs. 1.00.000