Use the following information to answer the giv... - WAEC Accounting 1991 Question
Use the following information to answer the given question
\(\begin{array}{c|c} & \text{1/1/86} & \text{31/12/86} \ & N & N \ \hline creditors & 5,000 & 8,000 \ stock & 1,200 & 1,100 \ \text{Mark-up} & \text{25%} & \ \text{Cash paid to creditors} & N7,000 & \end{array}\)
Sales for the year amounted to
\(\begin{array}{c|c} & \text{1/1/86} & \text{31/12/86} \ & N & N \ \hline creditors & 5,000 & 8,000 \ stock & 1,200 & 1,100 \ \text{Mark-up} & \text{25%} & \ \text{Cash paid to creditors} & N7,000 & \end{array}\)
Sales for the year amounted to
A
N12,625
B
N12,000
C
N11,300
D
N11,200
correct option: a
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