Question
If creditors balance was Rs 1,000 on 1 Jan 2018 and Rs 2,000 on 31 Dec 2018 and a payment of Rs 500 was made to creditors, What is the amount of purchases made during the year 2018?
Answer: Option C
:
C
Credit purchases= Closing creditors + Payments - Opening creditors = Rs 1,500.
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:
C
Credit purchases= Closing creditors + Payments - Opening creditors = Rs 1,500.
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