Plume Ltd maintains subsidiary ledgers for debtors and creditors.At 1 January 2016,debtors owed $3000 and creditors were owed $5600.Transactions for the month of January 2016 were as follows:
- What was the balance of the creditors control account at 31 January 2016?
A) $5800
B) $4600
C) $3800
D) $7400

Question

Plume Ltd maintains subsidiary ledgers for debtors and creditors.At 1 January 2016,debtors owed $3000 and creditors were owed $5600.Transactions for the month of January 2016 were as follows: 
- What was the balance of the creditors control account at 31 January 2016?
A) $5800 
B) $4600 
C) $3800 
D) $7400

Quizplus · Accepted Answer

The balance of the creditors control account is determined by calculating the total amount owed to suppliers at a specific point in time. Without specific transaction details, it's impossible to accurately calculate or confirm the balance. However, based on the question, if C is the correct choice, it implies that the balance was $3800 at 31 January 2016. This would typically involve summing all the amounts owed to creditors and subtracting any payments made up to that date.

Plume Ltd Maintains Subsidiary Ledgers for Debtors and Creditors