The following information relates to Alhaji Traders for the month of October 2023: Opening debtors balance ₦48,000; Credit sales ₦120,000; Cash received from debtors ₦95,000; Returns inwards ₦8,500; Discount allowed ₦3,200; Bad debts written off ₦2,300. What is the closing balance of the Sales Ledger Control Account?

The closing balance is calculated as: Opening balance ₦48,000 + Credit sales ₦120,000 − Cash received ₦95,000 − Returns inwards ₦8,500 − Discount allowed ₦3,200 − Bad debts written off ₦2,300 = ₦59,000. All items that reduce debtors (cash received, returns, discount, bad debts) are subtracted from the debit-side totals to arrive at the closing balance.