A company uses the single-entry system of accounting. The following transactions occurred during the year: Purchased office equipment for ₦50,000, sold goods for ₦200,000, and paid salaries of ₦150,000. Prepare the company's ledger accounts for office equipment and sales.

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Office Equipment: Debit ₦50,000, Credit ₦0; Sales: Debit ₦0, Credit ₦200,000

Post Utme Bowen University 2024 Accounting Question 14

A company uses the single-entry system of accounting. The following transactions occurred during the year: Purchased office equipment for ₦50,000, sold goods for ₦200,000, and paid salaries of ₦150,000. Prepare the company's ledger accounts for office equipment and sales.

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