Question
3. The following figures relate to the purchases made by a business. Payables control account Opening credit balance 90,000 Credit purchases 500,000 Cash paid to
3. The following figures relate to the purchases made by a business.
Payables control account
Opening credit balance 90,000
Credit purchases 500,000
Cash paid to credit suppliers 430,000
Contra with receivables ledger credit receivables ledger 15,000
Discounts received 5,250
What was the closing balance on the payables control account?
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
