Question # 78 Kaplan kit

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November 6, 2017 at 12:03 pm #414550
roomankhalid
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In Question# 78 of F3 kaplan kit
Receivable balance at month end is required to be calculated.
Question provides opening receivables, Discount allowed, Receipts during the month.
Receipts during the month are $85,000 of which $5000 are receipts against cash sales.
Should this $5000 be credited in receivable ledger when calculating the answer.
Kaplan does credit it. i don’t know why.
Help!
November 7, 2017 at 7:40 am #414624
secondstar
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I have an older version of Kaplan kit, and i cannot find this question in it. It would be better if you post the full question here.

Receipts from Cash sales are NOT dealt with in Receivables Control Account. There must be either some mistake or there is more detail in the question, without which i cannot answer you properly.
November 7, 2017 at 8:51 am #414633
roomankhalid
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I now understand after reading the question again.
It asked about sales revenue for the period
Providing Opening and closing receivable.
and Receipts(against cash sales and credit sales)
So in calculating sales,
It took Whole receipts.
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