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Amount owed to creditors on 31/12/19 is

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Accounts - Principles of Accounts WAEC 2021

Use the following information to answer this question 

                                                                       ₦
Creditors (01/01/19)                                   223,000
Creditors (31/12/19)                                   316,000
Credit purchases                                     1,426,000
Discount received                                         64,000
Company’s cheque dishonoured                  90,000

Amount owed to creditors on 31/12/19 is

  • ₦ 406,000
  • ₦ 342,000
  • ₦ 316,000 checkmark
  • ₦ 226,000

The correct answer is: C

Explanation

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