On 1 March, Tunde's Debtors Account showed a balance of ₦45,000. During March, credit sales amounted to ₦130,000, cash received from debtors was ₦110,000, and discount allowed was ₦5,000. What was the closing balance of the Debtors Account at 31 March?

Opening balance ₦45,000 plus credit sales ₦130,000 gives ₦175,000 on the debit side. Cash received ₦110,000 and discount allowed ₦5,000 total ₦115,000 on the credit side. Closing balance = ₦175,000 − ₦115,000 = ₦60,000. Discount allowed reduces the amount owed and must be credited to the Debtors Account.