Question: 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

P is a sole proprietor whose accounting records are incomplete. All the

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 were the sales for the year? A. $80,900 B. $81,000 C. $81,100 D. $86,100

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