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