Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

A purchases ledger control account has been matched against the balances in the purchases ledger as shown below: control account balance: $70000 a page total from the purchases journal that has not been posted to the general ledger: $2000 discount allowed by trade payables that has not been posted to the purchases ledger: $1500 total of balances in the purchases ledger: $73500 What amount for trade payables ought to appear in the statement of financial position?

  • A$68000
  • B$70500
  • C$72000
  • D$73500

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