What should the closing balance be when the errors have been corrected? A $325,200 B $350,400 C $358,800 D $376,800
What should the closing balance be when the errors have been corrected? A $325,200 B $350,400 C $358,800 D $376,800
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
What should the closing balance be when the errors have been corrected?
A $325,200
B $350,400
C $358,800
D $376,800

Transcribed Image Text:28.13 The following payables ledger control account contains some errors. All goods are purchased on credit.
PAYABLES LEDGER CONTROL ACCOUNT
$
963,200
12,600
$
Purchases
Discounts received
Opening balance
Purchases returns
Cash paid to suppliers
384,600
17,400
988,400
Contras with amounts
receivable in receivables ledger
Closing balance
4,200
410,400
1,390,400
1,390,400
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