Given:
I. Cash refunds
II. Debit note issued
III. Dishnoured cheque
IV. Purchases
The item on the credit side of purchase ledger control account includes
I. Cash refunds
II. Debit note issued
III. Dishnoured cheque
IV. Purchases
The item on the credit side of purchase ledger control account includes
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Correct Answer: Option B
Explanation:
The item on the credit side of the purchase control account or total creditor control account are: purchase (credit), cash refunds, discount withdrawn, debit note received.
The item on the credit side of the purchase control account or total creditor control account are: purchase (credit), cash refunds, discount withdrawn, debit note received.