Accounts - Principles of Accounts Past Questions and Answers

The balancing figure in the purchases ledger control account is?

The balancing figure in the purchases ledger control account is?

Use the information below to answer questions 17 and 18.
Opening balance.............................N10,640
Purchases...................................N26,912
Returns inwards.............................N492
Returns outwards............................N810
Cash discount received......................N1,348
Cash discount allowed.......................N1,560
Cash paid to suppliers......................N20,808
At the year end, the purchases ledger showed a debit balance of N108.
The total on the debit side of the purchases ledger control account will be?

In a sales ledger, contra entry is found on the?

The beginning and ending accounts receivable balances were N20,000 and N30,000 respectively.
The collection from customers during the period was N70,000. What was the total sale on account?