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
- N52,000
- N51,000
-
N55,000
- N50,000
The correct answer is: C
Explanation
Total purchases = credit purchases plus cash purchases i.e. N52000 + N3000 = N55,000