In detail please Juur ledge15.7 The payables ledger control account below contains a number of errors:PAYABLES LEDGER CONTROL ACCOUNTed for.(2 man24%241,268,600PurchasesDuring Octoberto suppliers,e $68,900.Opening balance (amountsowed to suppliers)Cash paid to suppliersPurchases returnsRefunds received from suppliers318,6001,364,30041,2002,700$1,726,800Contras against debitbalances in receivables ledgerDiscounts received48,0008,200402,000$1,726,800Closing balanceAll items relate to credit purchases.What should the closing balance be when all the errors are corrected?$128,200B $509,000C $224,20O$144,600(2 manontra to thecount.

Account Payable Control Account: The accounts payable control account or purchases ledger control…

PAYABLES LEDGER CONTROL ACCOUNT 24 %24 Opening balance (amounts owed to suppliers) Cash paid to suppliers Purchases returns Refunds received from suppliers Purchases 1,268,600 318,600 1,364,300 41,200 2,700 $1,726,800 Contras against debit balances in receivables ledger Discounts received 48,000 8,200 402,000 $1,726,800 Closing balance All items relate to credit purchases. What should the closing balance be when all the errors are corrected? $128,200 $509,000 C $224,200 A $144.600

PAYABLES LEDGER CONTROL ACCOUNT 24 %24 Opening balance (amounts owed to suppliers) Cash paid to suppliers Purchases returns Refunds received from suppliers Purchases 1,268,600 318,600 1,364,300 41,200 2,700 $1,726,800 Contras against debit balances in receivables ledger Discounts received 48,000 8,200 402,000 $1,726,800 Closing balance All items relate to credit purchases. What should the closing balance be when all the errors are corrected? $128,200 $509,000 C $224,200 A $144.600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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