Solved

Use the Information Given Below to Answer the Following Questions

Question 13

Multiple Choice

Use the information given below to answer the following questions:
Gum Ltd maintains subsidiary ledgers for debtors and creditors. At 1 July 2011, debtors owed $4000, and $7200 was owing to creditors. Transactions for year ended 30 June 2012 were as follows:
 $ Credit sales 14000 Cash sales 3000 Credit purchases 23000 Cash purchases 1500 Cash received from debtors 11000 Cash paid to creditors 25000\begin{array} { l r } \text { }&\$\\\text { Credit sales } & 14000 \\\text { Cash sales } & 3000 \\\text { Credit purchases } & 23000 \\\text { Cash purchases } & 1500 \\\text { Cash received from debtors } & 11000 \\\text { Cash paid to creditors } & 25000\end{array}
-What was the balance of the creditors control account at 30 June 2012?


A) $5200
B) $5500
C) $6000
D) $9200

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions