Neco Model Questions Vol1 2025 Financial Accounting Question 47

The following single‑column cash book extracts are for the year ended 31 December 2025.\n\nOpening cash balance: \(\text{₦}5,000\) (debit)\n\nReceipts:\n- Cash sales: \(\text{₦}80,000\)\n- Loan received: \(\text{₦}10,000\)\n\nPayments:\n- Rent: \(\text{₦}12,000\)\n- Salaries: \(\text{₦}18,000\)\n- Interest paid: \(\text{₦}4,000\)\n- Miscellaneous expenses: \(\text{₦}6,000\)\n- Cash purchases: ? (amount not recorded)\n\nClosing cash balance: \(\text{₦}8,000\) (debit)\n\nAdditional information:\n- Opening stock: \(\text{₦}10,000\)\n- Closing stock: \(\text{₦}12,000\)\n- The profit for the period is \(\text{₦}15,000\).\n\nDetermine the amount of cash purchases for the period and show that it is consistent with the reported profit.