Use the information below to answer the question: Total sales of ticket ₦300 000 Amount received from the sales ₦260 000 Cash purchase of club house ₦100 00...

Assessment: JAMB UTME - Principles of Accounts - 2003 Subject: Financial Accounting

Question 1 Report

Use the information below to answer the question:

Total sales of ticket ₦300 000
Amount received from the sales ₦260 000
Cash purchase of club house ₦100 000
Credit purchase of equipment ₦60 000
Electricity bill paid ₦5 000
Salaries owed ₦2 000

What is the receipts and payment account balance?

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