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:
$$\begin{array} { l r }
\text { }&\$\
\text { Credit sales } & 14000 \
\text { Cash sales } & 3000 \
\text { Credit purchases } & 23000 \
\text { Cash purchases } & 1500 \
\text { Cash received from debtors } & 11000 \
\text { Cash paid to creditors } & 25000
\end{array}$$
-What was the balance of the creditors control account at 30 June 2012?
A) $5200
B) $5500
C) $6000
D) $9200

Question

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:
$$\begin{array} { l r } 
\text { }&\$\
\text { Credit sales } & 14000 \
\text { Cash sales } & 3000 \
\text { Credit purchases } & 23000 \
\text { Cash purchases } & 1500 \
\text { Cash received from debtors } & 11000 \
\text { Cash paid to creditors } & 25000
\end{array}$$
-What was the balance of the creditors control account at 30 June 2012?
A) $5200
B) $5500
C) $6000
D) $9200

Quizplus · Accepted Answer

The Answer of 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:
$$\begin{array} { l r } 
\text { }&\$\
\text { Credit sales } & 14000 \
\text { Cash sales } & 3000 \
\text { Credit purchases } & 23000 \
\text { Cash purchases } & 1500 \
\text { Cash received from debtors } & 11000 \
\text { Cash paid to creditors } & 25000
\end{array}$$
-What was the balance of the creditors control account at 30 June 2012?
A) $5200
B) $5500
C) $6000
D) $9200

Use the Information Given Below to Answer the Following Questions