If Opening Creditor is Rs.60000,Credit
Purchase Rs 3,00,000,Cash paid to Creditor
Rs,2,50,000,Discount received Rs 10000.than
Closing Creditor is __.
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Answer:
Closing Creditors= Opening creditors+ Credit purchase - Cash Paid + Discount Received
= 60000+ 300000- 250000+ 10000
= 120000 is closing balance of creditors.
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