Use the following information to answer the question
| $ | |
|
Trade creditors (31/12/2020) |
4,000 |
| Paid for purchases in 2021: Cheques | 110,000 |
| Carriage inwards | 1,000 |
| Trade creditors (31/12/2021) | 6,000 |
The total purchase in 2021 is
To determine the total purchase in 2021, we need to sum up the amounts paid for purchases in 2021 and the carriage inwards.
The amounts are as follows:
Paid for purchases in 2021 (cheques): $110,000
Carriage inwards: $1,000
Adding these two amounts together gives us:
$110,000 + $1,000 = $111,000
Therefore, the total purchase in 2021 is $111,000.
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