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WAEC Financial Accounting 2026 Question 13

Question 13

Control Accounts

An item on the credit side of total creditors' control account is

  1. A.cash refund from suppliers
  2. B.returns outwards
  3. C.bills payable
  4. D.cash paid to suppliers
Show the answer and explanation

Answer: A (cash refund from suppliers)

Explanation

A cash refund received from a supplier is debited to cash and credited to the creditors' control account; returns, bills payable and payments are debit-side items.