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Incomplete records

3.3 Purchases figures

These are calculated in the same way as sales figures.

This can be simplified using the following ledger account:

Purchase ledger control account
Date Details $ Date Details $
Cash paid to
In year suppliers X 01 Jan Balance b/d X
In year Contra with SLCA X In year Purchases (bal fig) X
In year Discounts allowed X

31 Dec Balance c/d
––– –––
X X

Illustrations and further practice

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