Waec Model Questions Vol1 2018 Financial Accounting Question 17
Practice objective / multiple choice question 17 from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
During the month, the following ten transactions were recorded by a trading business: 1. Bought 500 units of inventory on credit for ₦200,000. 2. Bought office furniture on credit for ₦80,000. 3. Purchased raw materials on credit for ₦150,000. 4. Bought advertising services on credit for ₦20,000. 5. Returned 50 units of inventory to the supplier for ₦20,000 (credit). 6. Paid cash for rent ₦30,000. 7. Sold goods for cash ₦120,000. 8. Sold goods on credit ₦90,000. 9. Purchased inventory for cash ₦70,000. 10. Received cash from a debtor for a previous credit sale ₦45,000. How many of these transactions should be entered in the Purchases Journal?
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About This Question
This is Waec Model Questions Vol1 2018 Financial Accounting Question 17. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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