WAEC Accounting 2016 Paper

Concept:Credit purchases are calculated using the creditors control account equation.Explanation:In the creditors account: Opening creditors + Credit purchases = Cash paid to creditors + Discount received + Closing creditorsTherefore: Credit purchases = Closing creditors + Cash paid to creditors + Discount received − Opening creditorsSubstitute the given values: $= 3,117 + 127,345 + 4,211 − 2,473$Calculate step by step: $3,117 + 127,345 = 130,462$ $130,462 + 4,211 = 134,673$ $134,673 − 2,473 = 132,200$So the credit purchases amount is $132,200$.Answer:D. D 132,200