Accounting for IGCSE & O level - Accounting Procedures (Section 6 - No. 42)
What does the balance brought down on a purchase ledger represent?
The total amount owed to suppliers at the start of the period
The total amount the business has paid to suppliers
The total value of purchases made during the period
The total amount the business has received from customers
Explanation
The balance brought down reflects the opening balance, or the amount owed at the start of the period.
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