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The purchase ledger control account of a company had an opening balance of N45,600 credit...

Accounts - Principles of Accounts
JAMB 1995

The purchase ledger control account of a company had an opening balance of N45,600 credit and closing balance of N72,600 credit. The company made payments of 437,000 to credit suppliers during the period: and had discount received of N18,600 on this account. What were the credit purchase for the period?
  • A. N509,600
  • B. N482,600
  • C. N428,600
  • D. N418,400
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Correct Answer: Option B
Explanation
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