$\begin{array}{c|c} & ₦\\ \hline \text{Opening debtors} & 40,000\\ \text{Opening creditors} & 30,000 \\ \text{Credit sales} & 100,000\\ \text{Credit purchases} & 80,000 \\ \text{Bad debts}& 5,500\\ \text{Set-offs} & 65,500\end{array}$

Closing creditors figure is

Similar Questions

In the preparation of statement of profit, if the opening capital is greater than closing capital, t...

Which of the following is a credit item in an income and expenditure account? ...

If a partner pays a premium of N500 for 1/5 share of profit, then the total value of goodwill is? ...

A double entry for a transaction that offsets one amount against another on both sides of the cashbo...

The balance sheet equation shows ...

The Chief accounting officer of the Federation Republic of Nigeria is the ...

Ade, Tony, Rose share profit and losses in the ratio of 3 : 2 : 1 respectively. Ade retires and the ...

#800,000 worth of ordinary shares of 50k were issued at #1 each, payable in full on application. The...

\(\begin{array}{c|c} \text{Net profit} & 60,000 \\ \hline \text{Total assets} & 520,000 \\ \...

A bond acknowledging a loan to a company under the company's seal, bearing a fixed rate of inter...