Post Utme Bells University 2019 Accounting Question 32

Practice objective / multiple choice question 32 from the 2019 Post Utme Bells University Accounting examination.

Post Utme Bells University 2019 Accounting Objective / Multiple Choice
Question 32 POST_UTME_BELLS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company has the following transactions: Purchased office supplies on credit for ₦10,000; Sold goods for ₦20,000 cash; Purchased a new machine for ₦50,000 cash. Prepare the journal entries for these transactions.

Answer Options

A. Debit Office Supplies Account ₦10,000, Credit Cash Account ₦10,000
Correct Answer B. Debit Office Supplies Account ₦10,000, Credit Accounts Payable ₦10,000
C. Debit Cash Account ₦50,000, Credit Office Supplies Account ₦10,000
D. Debit Cash Account ₦50,000, Credit Accounts Payable ₦50,000
Correct Answer
B
Correct Option:
Debit Office Supplies Account ₦10,000, Credit Accounts Payable ₦10,000

About This Question

This is Post Utme Bells University 2019 Accounting Question 32. It is one of the objective questions from the 2019 Post Utme Bells University Accounting examination.

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