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WAEC Financial Accounting 2026 Question 43

Question 43

Control Accounts

Use the following information to answer questions 43 and 44.
The transactions for a retail business for April 2024 were:
Credit purchases: $3,560
Returns outwards: $500
Cheque paid to suppliers: $2,400
In which ledger account will the transactions be recorded?

  1. A.Sales ledger control account
  2. B.Real account
  3. C.Purchases ledger control account
  4. D.Private ledge account
Show the answer and explanation

Answer: C (Purchases ledger control account)

Explanation

Credit purchases, returns outwards and payments to suppliers all concern creditors, so they go to the purchases ledger control account.