Calculate the total purchase of a business from the given information, cash purchases 3000; payments to creditors 53,000; creditors at the beginning 4000; creditors at the end 2,000

  • A N52,000
  • B N51,000
  • C N55,000
  • D N50,000
jamb 2015accounting

The correct answer is C. N55,000

Total purchases = credit purchases plus cash purchases i.e. N52000 + N3000 = N55,000

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