Alhaji Haruna operates a building materials store and keeps incomplete accounting records. On 1 January 2025, his cash in hand balance was . During the year ended 31 December 2025, his recorded cash book transactions showed: cash banked , cash paid for trade expenses , cash paid to trade creditors , cash purchases , and proprietor's cash drawings recorded in the cash book . In addition, before banking daily cash takings, the proprietor paid for carriage inwards and took for personal living expenses directly out of cash receipts. At 31 December 2025, the cash in hand balance was . What is the total cash sales amount for the year?
Cevap: 963000 ₦
Cevap
The total cash receipts from sales for the year is ₦963,000.
Total cash receipts from sales are derived using the cash summary equation: Total Outflows (including unbanked payments) + Closing Cash Balance - Opening Cash Balance. Summing all outflows gives . Adding the closing cash balance of yields . Deducting the opening cash balance of leaves as total cash sales.
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Cash Summary Analysis for Missing Cash Receipts
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