Home » Past Questions » Accounts » Use the information to answer the question Aminu and Sons credit purchases (Extr...

Use the information to answer the question Aminu and Sons credit purchases (Extr...


Question

Use the information to answer the question

Aminu and Sons credit purchases (Extract] as at February 1996.

Feb 1Credit balances 40, 000

Debit balances 1, 000

Feb 28 Purchases journal totals 500,000

Returns outwards journal totals 50,000

Cheques paid to suppliers 400,000

Promissory notes sent to suppliers 30,000

Credit balance in the purchases ledger set off against debit balances in the sales ledger 2000

The Total for the purchases ledger control account is

Options

A)
₦480,000
B)
₦490000
C)
₦500,000
D)
₦540,000

The correct answer is D.


More Past Questions:


Discussion