Question

The following information is given

	Rs
Opening creditors	60,000
Cash paid to creditors	30,000
Closing creditors	36,000
Returns Inward	13,000
Bill matured	27,000
Bill dishonoured	8,000
Purchases return	12,000
Discount allowed	5,000

Calculate credit purchases during the year

Answer 1

Creditors Account
Dr.		Cr.
Particulars	Amount Rs		Particulars	Amount Rs
Cash	30,000		Balance b/d	60,000
Purchases Return	12,000		B/P (dishonoured)	8,000
B/P (accepted) (see note)	27,000		By Purchases – credit	37,000
Balance c/d	36,000		(Balancing figure)
	1,05,000			1,05,000

Note: In order to match the answer with NCERT book, in the solution bills payable matured has been assumed as bills payable accepted.