Post Utme Bsu 2021 Accounting Question 34

Practice objective / multiple choice question 34 from the 2021 Post Utme Bsu Accounting examination.

Post Utme Bsu 2021 Accounting Objective / Multiple Choice
Question 34 POST_UTME_BSU • 2021 • ACCOUNTING • objective

A company has the following transactions: Purchased goods for ₦10,000 cash, sold goods for ₦15,000 on credit, and paid ₦5,000 cash to a supplier. Prepare the journal entries for these transactions.

Answer Options

Correct Answer A. Debit Cash ₦10,000, Credit Purchases ₦10,000
B. Debit Sales ₦15,000, Credit Cash ₦15,000
C. Debit Purchases ₦5,000, Credit Cash ₦5,000
D. Debit Sales ₦15,000, Credit Purchases ₦15,000
Correct Answer
A
Correct Option:
Debit Cash ₦10,000, Credit Purchases ₦10,000

About This Question

This is Post Utme Bsu 2021 Accounting Question 34. It is one of the objective questions from the 2021 Post Utme Bsu Accounting examination.

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