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SSC Financial and Cost Accounting P-1 QUESTION #9630
Question 1
The Debtors Control Account had an opening balance of Rs. 70,000. Credit sales for May were Rs. 26,000, sales returns Rs. 3,400, cash/cheques received from debtors Rs. 46,000, and discounts allowed Rs. 3,700. What is the closing balance of the Debtors Control Account?
  • Rs. 42,900✔️
  • Rs. 46,600
  • Rs. 46,000
  • Rs. 39,900
Correct Answer Explanation
Debtors Control Account: Opening Dr. 70,000 + Credit Sales 26,000 = 96,000. Less: Returns 3,400 + Receipts 46,000 + Discounts 3,700 = 53,100. Closing balance = 96,000 – 53,100 = Rs. 42,900.