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WAEC Financial Accounting 1996 Question 48

Question 48

Control Accounts

Which of the following is not a debit entry in the Bought Ledger?

  1. A.Cash
  2. B.Discount received
  3. C.Purchases
  4. D.Returns outwards
  5. E.Bills payable.
Show the answer and explanation

Answer: C (Purchases)

Explanation

In a supplier's account, credit purchases are credited; payments, discounts, returns and bills payable are debited.