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	111,105
Cash received from credit customers and paid into the bank	319,690
Expenses paid out of cash received from credit customers before banking	6,030
Irrecoverable debts written off	2,280
Refunds to credit customers	1,170
Discounts allowed to credit customers	3,120
Cash Sales	11,550
Closing accounts receivable	26,912

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

SUGGESTED SOLUTIONS

	DEBIT	CREDIT
	$	$
Opening Accounts Receivable	111,105
Cash received from credit customers and paid into the bank		319,690
Expenses paid out of cash received from credit customers before banking		6,030
Irrecoverable debts written off		2,280
Refunds to credit customers	1,170
Discounts allowed to credit customers		3,120
Credit sales	Answer
Closing accounts receivable	26,912

Solve the equation

Credit Sale = $245,757

Total sale = Credit sale + Cash sale

= 245,757 + 11,550

= $ 257,307