Post Utme Babcock University 2017 Accounting Question 37

Practice objective / multiple choice question 37 from the 2017 Post Utme Babcock University Accounting examination.

Post Utme Babcock University 2017 Accounting Objective / Multiple Choice
Question 37 POST_UTME_BABCOCK_UNIVERSITY • 2017 • ACCOUNTING • objective

A public sector organization has the following transactions: Purchased office equipment for ₦50,000, paid ₦20,000 in advance for rent, and received ₦15,000 from a customer. Prepare the journal entries for these transactions.

Answer Options

Correct Answer A. Debit Office Equipment ₦50,000, Credit Cash ₦50,000
B. Debit Rent Expense ₦20,000, Credit Cash ₦20,000
C. Debit Accounts Receivable ₦15,000, Credit Cash ₦15,000
D. Debit Office Equipment ₦50,000, Credit Rent Expense ₦20,000
Correct Answer
A
Correct Option:
Debit Office Equipment ₦50,000, Credit Cash ₦50,000

About This Question

This is Post Utme Babcock University 2017 Accounting Question 37. It is one of the objective questions from the 2017 Post Utme Babcock University Accounting examination.

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