Use the following information to answer the que... - WAEC Accounting 2010 Question
Use the following information to answer the question given
\(\begin{array}{c|c} \text{Jan. 1} & \text{₦}\ \hline \text{1/1/08 Capital introduced by cash} & 50,000 \ \text{2/1/08 Bought goods for retail by cash} & 10,000\ \text{3/1/08 Sold fixtures by cash} & 5,000\ \text{4/1/08 Sold goods to Lagbaja on credit} & 3,000\ \text{5/1/08 Bought goods on credit from Tamedu}& 8,000\end{array}\)
Balance in Purchases account at 5/1/08 is
\(\begin{array}{c|c} \text{Jan. 1} & \text{₦}\ \hline \text{1/1/08 Capital introduced by cash} & 50,000 \ \text{2/1/08 Bought goods for retail by cash} & 10,000\ \text{3/1/08 Sold fixtures by cash} & 5,000\ \text{4/1/08 Sold goods to Lagbaja on credit} & 3,000\ \text{5/1/08 Bought goods on credit from Tamedu}& 8,000\end{array}\)
Balance in Purchases account at 5/1/08 is
A
₦23,000
B
₦18,000
C
₦10,000
D
₦8,00
correct option: b
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