Question on: JAMB Accounting - 2024
Purchase Ledger Control Account
| # | # | ||
| Cash paid to debtors | 15000 | Balance c/d | 5000 |
| Bills payable | 3000 | Purchase journal | 30000 |
| Discount received | 2500 | ||
| Return outward | 1500 | ||
| Sales ledger | 1200 | ||
| Balance c/d | 11800 | ||
| 35000 | 35000 |
The balance of #11,800 represents the amount
A
of balance required
B
of purchases made
C
receivable from creditor
D
payable to the creditor
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Correct Option: D
The Purchase Ledger Control Account summarizes transactions with creditors. The balance of 11,800 represents the amount payable to creditors.
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