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Calculate the correct value of creditors

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Question - At 31 October the balance on the payables control account in Angelo's general ledger is $79,850 and the total of the list of balances on the personal accounts is $79,310. Angelo has discovered that the difference is because a payment for $60 was entered correctly in the day book but was recorded as $600 on the supplier's account.

Required - Calculate the correct value of creditors to be reported on Angelo's statement of financial position at 31 October.

Reference no: EM132974762

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