Gce Model Questions Vol1 2024 Financial Accounting Question 46
Practice objective / multiple choice question 46 from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
The creditors' ledger of XYZ Ltd shows an opening balance of \(12{,}000\). During the year purchases amounted to \(45{,}000\) and purchase returns were \(3{,}500\). The company paid \(30{,}000\) cash to its creditors and received a discount of \(500\) for early payment. What is the closing balance of creditors at year‑end?
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About This Question
This is Gce Model Questions Vol1 2024 Financial Accounting Question 46. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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