JAMB - Accounts Principles Of Accounts (2015 - No. 38)
Calculate the total purchase of a business from the given information, cash purchases 3000; payments to creditors 53,000; creditors at the beginning 4000; creditors at the end 2,000
N52,000
N51,000
N55,000
N50,000
Explanation
Total purchases = credit purchases plus cash purchases i.e. N52000 + N3000 = N55,000
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