The Cash account of a confectioner records the sales as 216,480 and the purchases as 196,475 in the first year
The Cash account of a confectioner records the sales as £216,480 and the purchases as £196,475 in the first year of business. Sales are always made at cost plus 20% and no confectionery remains unsold at the year-end. The owner suspects that part of the amount received from sales has been misappropriated by the manager who has now resigned. What is the extent of suspected misappropriation?
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