O-LevelAccountingAccounting procedures7707/11 · May/June 2010 · Q91 Mark

On 1 March a business owed its suppliers $9500. During March the following transactions took place. $ goods purchased on credit 10 000 goods returned to suppliers 200 cheques paid to suppliers 8900 cash discounts received 100 How much did the business owe its suppliers on 31 March?

A$800

B$1000

C$10 300

D$10 500

✓ Correct answer

C: $10 300

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2010 Paper 1 Variant 1, question 9.

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