Accounts (Principles of Accounts)The cash book and discountsWAEC
Opening cash was ₦20,000. Cash sales were ₦35,000, wages paid in cash ₦12,000 and cash banked ₦25,000. Find the closing cash balance.
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Answer: B. ₦18,000
20,000 + 35,000 − 12,000 − 25,000 = ₦18,000.
An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.