Neco Model Questions Vol1 2019 Financial Accounting Question 30
Practice objective / multiple choice question 30 from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
The Purchases Returns Control Account has an opening credit balance of \(\text{N}30,000\). During the month the following returns were posted to the control account: Supplier A \(\text{N}5,000\), Supplier B \(\text{N}3,000\), Supplier C \(\text{N}2,000\). At month‑end the total of the individual supplier returns ledger (the subsidiary ledger) is \(\text{N}9,500\). Determine the balancing figure that must be entered on the debit side of the control account.
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About This Question
This is Neco Model Questions Vol1 2019 Financial Accounting Question 30. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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