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WAEC Financial Accounting 2018 Question 9

Question 9

Double Entry and the Ledger

Entries in the purchases journal are transferred to the

  1. A.receivable ledger.
  2. B.payable ledger.
  3. C.general ledger.
  4. D.private ledger.
Show the answer and explanation

Answer: B (payable ledger.)

Explanation

Credit purchases are posted to suppliers' accounts in the payable (purchases) ledger.