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	12,345
Cash received from credit customers and paid into the bank	319,690
Expenses paid out of cash received from credit customers before banking	3,350
Irrecoverable debts written off	3,192
Refunds to credit customers	1,170
Discounts allowed to credit customers	12,480
Cash Sales	3,850
Closing accounts receivable	13,456

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

SUGGESTED SOLUTIONS

	DEBIT	CREDIT
	$	$
Opening Accounts Receivable	12,345
Cash received from credit customers and paid into the bank		319,690
Expenses paid out of cash received from credit customers before banking		3,350
Irrecoverable debts written off		3,192
Refunds to credit customers	1,170
Discounts allowed to credit customers		12,480
Credit sales	Answer
Closing accounts receivable	13,456

Solve the equation

Credit Sale = $338,653

Total sale = Credit sale + Cash sale

= 338,653 + 3,850

= $ 342,503