A customer’s account has an opening debit balance of Rs 10,000. Credit sales to him are Rs 25,000, cash received from him is Rs 18,000 and goods returned by him are Rs 2,000. What is the closing balance?
Correct answer C. Rs 15,000 debit
Explanation
Debits total 10,000 + 25,000 = 35,000 and credits total 18,000 + 2,000 = 20,000, leaving a debit balance of Rs 15,000 owed by the customer.
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