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From the following details find out the credit purchases and total purchases: Cash purchases Opening balance of bills payable Opening balance of Creditors Opening balance
From the following details find out the credit purchases and total purchases: Cash purchases Opening balance of bills payable Opening balance of Creditors Opening balance of bills payable Closing balance of Creditors Cash paid to Creditors Bills payable paid during the year Purchases Returns Allowance from Creditors Bills payable dishonoured $ 29,000 7,500 20,000 2,500 18,000 25,000 10,500 1,500 800 300
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