Winn Ltd has opening trade payables of £24,183 and closing trade payables of £34,655. Purchases for the period totalled £254,192 (£31,590 relating to cash purchases). Total payments recorded in the payables ledger for the period were: £212,130 £233,074 £243,720 £264,664
Added by John L.
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Step 1
First, we need to find the credit purchases for the period. Since we know the total purchases and cash purchases, we can calculate the credit purchases as follows: Credit Purchases = Total Purchases - Cash Purchases Credit Purchases = 254,192 - 31,590 Credit Show more…
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