Accounts - Principles of Accounts
WAEC 1991
Use the following information to answer the given question
BOUGHT LEDGER CONTROL ACCOUNT:
\(\begin{array}{c|c} & N & & N \\ \hline \text{Purchases returns} & 1,500 & \text{Balance b/f} & 5,000 \\ \text{Bills payable} & 4,500 & Purchases & 10,500 \\ Bank & 6,100 & \text{Cheques dishonoured} & 300 \\ \text{Discount allowed} & 200 & & \\ \text{Balance c/f} & \overline{15,800} & & \overline{15,800} \end{array}\)
Creditors at the end of the year amounted to
-
A.
N10,500
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B.
N9,000
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C.
N5,000
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D.
N4,500
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E.
N3,500
Correct Answer: Option E
Explanation
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