Question

Find out the credit purchases from the following:

	Rs
Balance of creditors April 01, 2016	45,000
Balance of creditors March 31, 2017	36,000
Cash paid to creditors	1,80,000
Cheque issued to creditors	60,000
Cash purchases	75,000
Discount received from creditors	5,400
Discount allowed	5,000
Bills payable given to creditors	12,750
Return outwards	7,500
Bills payable dishonoured	3,000
Bills receivable endorsed to creditors	4,500
Bills receivable endorsed to creditors dishonoured	1,800
Return inwards	3,700

Answer 1

Creditors Account
Dr.				Cr.
Particulars	Amount Rs		Particulars	Amount Rs
Cash	1,80,000		Balance b/d	45,000
Bank	60,000		B/P (dishonoured)	3,000
Discount Received	5,400		B/R (dishonoured)	1,800
B/P (accepted)	12,750
Return Outwards	7,500		Purchases – credit
B/R (endorsed to creditors)	4,500		(Balancing figure)	2,56,350
Balance c/d	36,000
	3,06,150			3,06,150

Credit Purchases Rs 2,56,350