From the following calculate credit purchases during the year.
Creditors as on 1−4−2013 Rs. 36,500
Payment made to creditors Rs. 60,000
Discount given by creditors for early payment Rs. 5,500
Creditors as on 31−3−2014 Rs. 21,000.
Particulars | Amount | Particulars | Amount |
To Cash | 60000 | By Opening Balance B/f | 36500 |
To Discount | 5500 | By Credit Purchases | 50000 |
To Closing Balance C/f | 21000 | ||
Total | 86500 | Total | 86500 |