What was the value of P’s sales revenue for the year? A $80,900 B $81,000 C $81,100 D $86,100
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P is a sole proprietor whose accounting records are incomplete. All the sales are cash sales
and during the year $50,000 was banked, including $5,000 from the sale of a business car.
He paid $12,000 wages in cash from the till and withdrew $2,000 per month as drawings.
The cash in the till at the beginning and end of the year was $300 and $400 respectively.
What was the value of P’s sales revenue for the year?
A $80,900
B $81,000
C $81,100
D $86,100
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