Kwame runs a business in Accra. His purchases ledger control account showed a credit balance of $15,400 on 1 January. During January, credit purchases totalled $8,200, payments to suppliers were $9,600, purchase returns were $450, and discounts received were $320. What was the balance on the purchases ledger control account on 31 January?

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Question

Kwame runs a business in Accra. His purchases ledger control account showed a credit balance of $15,400 on 1 January. During January, credit purchases totalled $8,200, payments to suppliers were $9,600, purchase returns were $450, and discounts received were $320. What was the balance on the purchases ledger control account on 31 January?

Accepted Answer

$13,230 credit — Award 1 mark for correct calculation: $15,400 + $8,200 - $9,600 - $450 - $320 = $13,230 credit. B is incorrect — fails to deduct discounts received. C is incorrect — adds items that should be deducted. D is incorrect — fails to deduct purchase returns.

Answer

$13,550 credit

Answer

$13,230 credit

Answer

$17,570 credit

Answer

$13,870 credit

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