A debit balance of N420 on the purchases ledger control account means that the

Accounts - Principles of Accounts WAEC 2020

A debit balance of N420 on the purchases ledger control account means that the 

  • trade creditors were overpaid by N420 checkmark
  • trade creditors are owed N420
  • goods returned to trade creditors amounted to N420
  • total supplies from trade creditors amounted to N420

The correct answer is: A

Explanation

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