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Accounting Help - 2010 Q.4 - Creditors Control

  • 19-05-2013 1:56pm
    #1
    cathalio11
    Registered Users, Registered Users 2 Posts: 1,608 ✭✭✭


    Hi guys,

    Just studying for some less important 5th year exams here and there is something in the marking scheme that I can not understand for this question.

    On the Schedule of Creditors Accounts Balances, why is 672 deducted for (vi).

    I keep trying and I just can't seem to get that figure out of it logically. No problems with the rest of the question.

    Thanks in advance,

    Cathal


Comments

  • #2
    teach88
    Closed Accounts Posts: 122 ✭✭teach88


    It is the correct figure.

    I would imagine that you're getting caught on "the total amount of this credit note was credited in the creditor's account". This means it is the 90% (€756) that is entered and not the 10% (€84).

    Hope this solves the problem.


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