Wrigley Ltd Uses Subsidiary Ledgers for Debtors and Creditors

question 7

Multiple Choice

Wrigley Ltd uses subsidiary ledgers for debtors and creditors. At 1 July 2018 debtors owed $7 000 and creditors were owed $4 000. Transactions for year ended 30 June 2019 were as follows: What was the balance of the debtors' control account at 30 June 2019?

• A) $8 300
• B) $9 000
• C) $9 700
• D) $21 300

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Definitions:

Formula Selling

A standardized method of selling that relies on a predetermined script or series of steps.

Stimulus Response

A concept in behaviorism suggesting that a particular stimulus will elicit a specific response; often applied in sales and marketing strategies.

Group Sales Presentation

A marketing strategy where a presentation about a product or service is made to a group of potential clients or customers simultaneously.

Group Member

An individual who belongs to a specific group or team, contributing to the collective goals, activities, and dynamics of the group.