Use the information to answer the question that follows:
Aminu and Sons credit purchases (Extract] as at February 1996.
Feb 1 Credit balances: ₦40,000
Debit balances: ₦1,000
Feb 28 Purchases journal totals: ₦500,000
Returns outwards journal totals: ₦50,000
Cheques paid to suppliers: ₦400,000
Promissory notes sent to suppliers: ₦30,000
Credit balance in the purchases ledger set off against debit balances in the sales ledger: ₦2000
The total for the purchases ledger control account is
Options
A) ₦480,000
B) ₦490000
C) ₦500,000
D) ₦540,000 >>>>>>>>
The correct answer is D.
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