Accounting WAEC

What are the entries of posting credit purchases into the purchases ledger control account?

A. debt purchases ledger control accoun only
B. debit both purchases account and purchases ledger control account
C. credit purchases acount, debit purcases ledger control account
D. credit both purchases ledger control account and the purchases accunt
E. debit purchases account, credit purchases ladger control account

Correct Answer:

Option E – debit purchases account, credit purchases ladger control account

Sunday

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