Gum Ltd maintains subsidiary ledgers for debtors and creditors. At 1 July 2015, debtors owed $4000, and $7200 was owing to creditors. Transactions for year ended 30 June 2016 were as follows:

What was the balance of the debtors control account at 30 June 2016?
A) $3000
B) $7000
C) $10 000
D) $14 000

Question

Gum Ltd maintains subsidiary ledgers for debtors and creditors. At 1 July 2015, debtors owed $4000, and $7200 was owing to creditors. Transactions for year ended 30 June 2016 were as follows:

What was the balance of the debtors control account at 30 June 2016?
A) $3000 
B) $7000 
C) $10 000 
D) $14 000

Quizplus · Accepted Answer

The Answer of Gum Ltd maintains subsidiary ledgers for debtors and creditors. At 1 July 2015, debtors owed $4000, and $7200 was owing to creditors. Transactions for year ended 30 June 2016 were as follows:

What was the balance of the debtors control account at 30 June 2016?
A) $3000 
B) $7000 
C) $10 000 
D) $14 000

Gum Ltd Maintains Subsidiary Ledgers for Debtors and Creditors