Given: I. Cash refunds II. Debit note issued III. Dishonored cheque IV. Purchases The item...
FINANCIAL
JAMB 2017
Given:
I. Cash refunds
II. Debit note issued
III. Dishonored cheque
IV. Purchases
The item on the credit side of purchases ledger control account includes
- A. I,II and III only
- B. I and II only
- C. III and IV only
- D. I, III and IV only
Correct Answer: D. I, III and IV only
Explanation
Purchases control account it is also called total creditor control account I,II & IV : some of the items that appear on the credit side of purchases ledger are cash refund to supplier, dishonored cheque by banks and credit purchases
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