Neco Model Questions Vol1 2018 Financial Accounting Question 16
Practice objective / multiple choice question 16 from the 2018 Neco Model Questions Vol1 Financial Accounting examination.
On 1 March, XYZ Ltd purchased equipment for \(\text{₦}150,000\) on credit. On 15 March, it paid \(\text{₦}40,000\) cash to the creditor. Assuming no other transactions, what is the balance in the Creditors (Accounts Payable) ledger after the payment?
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About This Question
This is Neco Model Questions Vol1 2018 Financial Accounting Question 16. It is one of the objective questions from the 2018 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Easy .
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