Gum Ltd maintains subsidiary ledgers for debtors and creditors. At 1 July 2018, debtors owed $4 000, and creditors were owed $7 200. Transactions for year ended 30 June 2019 were as follows: What was the balance of the debtors' control account at 30 June 2019?
A) $3 000
B) $7 000
C) $10 000
D) $14 000

Question

Gum Ltd maintains subsidiary ledgers for debtors and creditors. At 1 July 2018, debtors owed $4 000, and creditors were owed $7 200. Transactions for year ended 30 June 2019 were as follows:  What was the balance of the debtors' control account at 30 June 2019?
A) $3 000 
B) $7 000 
C) $10 000 
D) $14 000

Quizplus · Accepted Answer

The Answer is B

Gum Ltd Maintains Subsidiary Ledgers for Debtors and Creditors