ACCA F3 Incomplete

The following information is relevant to the calculation of the sales figure for Beta, a sole trader who does not keep proper accounting records.

	$
Opening Accounts Receivable	24,690
Cash received from credit customers and paid into the bank	45,670
Expenses paid out of cash received from credit customers before banking	4,020
Irrecoverable debts written off	912
Refunds to credit customers	468
Discounts allowed to credit customers	9,360
Cash Sales	34,650
Closing accounts receivable	26,912

What should appear in Beta's trading account for sales?

SUGGESTED SOLUTIONS

	DEBIT	CREDIT
	$	$
Opening Accounts Receivable	24,690
Cash received from credit customers and paid into the bank		45,670
Expenses paid out of cash received from credit customers before banking		4,020
Irrecoverable debts written off		912
Refunds to credit customers	468
Discounts allowed to credit customers		9,360
Credit sales	Answer
Closing accounts receivable	26,912

Solve the equation

Credit Sale = $61,716

Total sale = Credit sale + Cash sale

= 61,716 + 34,650

= $ 96,366