JAMB Principles of Accounts 2001 Question 26

Use the information below to answer questions 25 and 26.
(₦)
Bar opening stock 10,000
Amount owed to bar suppliers at the beginning of the year 10,000
Bar sales 50,000
Bar credit purchases 40,000
Payment to suppliers 30,000
Bar expenses 1,000
Bar closing stock 15,000
How much is owed to suppliers?

1. A.₦50,000
2. B.₦40,000
3. C.₦30,000
4. D.₦20,000.