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Amount Owed To Creditors On 31/12/19 Is? - Erudites Academy
Categories: Accounting WAEC

Amount owed to creditors on 31/12/19 is?
Amount owed to creditors on 31/12/19 is?Amount owed to creditors on 31/12/19 is?

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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