Waec Model Questions Vol1 2023 Financial Accounting Question 24
Practice objective / multiple choice question 24 from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
The following transactions were recorded in the Purchases Journal during January: 1. 5 Jan - Supplier A - ₦30,000 2. 12 Jan - Supplier B - ₦45,000 3. 20 Jan - Supplier A - ₦25,000 4. 28 Jan - Supplier C - ₦50,000 Later, a purchase return of ₦15,000 to Supplier B was recorded in the Purchase Returns Journal, and a cash discount of 2 % on the net purchases was allowed and recorded in the Cash Discount Journal. What is the net amount payable to all suppliers after accounting for the return and the discount?
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About This Question
This is Waec Model Questions Vol1 2023 Financial Accounting Question 24. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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