Purchase Ledger Control Account   #   # Cash paid to debtors 15000 Balance c/d  5000...

Purchase Ledger Control Account # # Cash paid to debtors 15000 Balance c/d 5000...

JAMB 2024

Purchase Ledger Control Account

	#		#
Cash paid to debtors	15000	Balance c/d	5000
Bills payable	3000	Purchase journal	30000
Discount receive	2500
Return outward	1500
Sales ledger	1200
Balance c/d	11800
	35000		35000

The balance of #11,800 represents the amount

A. of balance required
B. of purchases made
C. receivable from creditor
D. payable to the creditor

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Correct Answer: Option D

Explanation

A Purchase Ledger Control Account is used to track and summarize the transactions related to purchases made from creditors. The balance on the credit side of the account represents the total purchases made from the creditors, while the balance on the debit side represents the payments made to the creditors.

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