Calculate the total purchase of a business from the given information, cash purchases 3000; payments to creditors 53,000; creditors at the beginning 4000; creditors at the end 2,000
-
A.
N52,000 -
B.
N51,000 -
C.
N55,000 -
D.
N50,000
Correct Answer: Option C
Explanation
Total purchases = credit purchases plus cash purchases i.e. N52000 + N3000 = N55,000