Answered: From the following information,…

From the following information, calculate the value of purchases: $ Opening trade payables 142,600 Cash paid 542,300 Discounts received 13,200 Goods returned 27,500 Closing trade payables 137,800 $4

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

From the following information, calculate the value of purchases:
Opening trade payables
142,600
Cash paid
542,300
Discounts received
13,200
Goods returned
27,500
Closing trade payables
137,800
%24
%24

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