Use the following information to answer this question
| ₦ | |
| Creditors (01/01/19) | 223,000 |
| Creditors (31/12/19) | 316,000 |
| Credit purchases | 1,426,000 |
| Discount received | 64,000 |
| Company’s cheque dishonoured | 90,000 |
A. ₦ 406,000
B. ₦ 342,000
C. ₦ 316,000
D. ₦ 226,000
Correct Answer:
Option C = ₦ 316,000
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