Question

Find out the CREDIT PURCHASES from the following details

Balance of creditors on 1-4-2018 32000

Balance of Creditors on 31st March 2019 46000

Cash paid to creditors 220000

Cheque issued to creditors 60,000

Purchase returns 10,000

Discount received from creditors 6600C

Cash Purchases 1,15,000

Bills Payable accepted 16000

Bills payable dishonoured 2,000

Bills receivable endorsed to creditors 7000

Endorsed bill dishonered 3,000​

Answer 1

Answer:

have to prepare creditor account .

Explanation:

Dr. cr

Particulars Amount(₹) Particulars Amount(₹)

Cash A/c 2,20,000 Balance b/d 32,000

Discount

Received A/c 6,600 Bills Payable A/c 2,000

Bills Payable A/c. 16,000 Bills Receivable A/c3,000

Purchases

Return A/c 10,000 Purchases A/c

(Credit) 3,28,600

Bills Receivable A/c 7,000 Bank A/c 60,000

Balance c/d 46,000

3,65,600 3,56,600