Which of the following are regarded as features of the single-entry system, generally maintained by small shopkeepers? (i) Maintenance of transactions related to personal accounts on the double entry basis and maintenance of transactions related to real and nominal accounts on the single entry basis. (ii) Maintenance of a cash book with mixed transactions. Normally, both personal and business transactions are mixed in a cash book. (iii) Form and accounting accuracy of the single-entry system differ from firm to firm.

In relation to the Single Entry System, which of the following statements is INCORRECT?

In a Single Entry System, the financial position of a business is ascertained through the preparation of a:

Maddy, a sole trader, does not keep full accounting records but provides the following information for the year ended 31 December 20X5: - Opening Trade Receivables (1 Jan 20X5): $45,600 - Closing Trade Receivables (31 Dec 20X5): $52,400 - Total cash received from customers and banked: $315,000 - Irrecoverable debts written off during the year: $4,500 - Cash sales included in banked total: $15,000 It was discovered that the cashier had stolen $2,000 of cash received from credit customers before it could be banked. Maddy maintains an allowance for receivables of 5% of the year-end balance. What is the total Revenue (Sales) figure for the year ended 31 December 20X5?