calculate creditors turnover ratio closing creditors 45,000,net purchases3,60,000,purchase returns60,000,cash purchases90,000 ,provision for discount on closing creditors 5,000
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ok no problem his question accountancy si my favorite subject this nothing answer is.......... 900000
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Explanation:
Creditors Turnover Ratio = Net purchases /Average Creditors
Net credit purchases = Net purchases - Cash Purchases
=360000-90000
=270000
Average Creditors =45000
Creditors Turnover Ratio =270000/45000
= 6 times
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