Post Utme Christopher University 2019 Accounting Question 22

Practice objective / multiple choice question 22 from the 2019 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2019 Accounting Objective / Multiple Choice
Question 22 POST_UTME_CHRISTOPHER_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's ledger accounts are as follows: Purchases ₦10,000, Sales ₦15,000, Returns Outwards ₦1,000, Returns Inwards ₦500. What is the correct journal entry to record the above transactions?

Answer Options

A. Debit Purchases by ₦10,000, Credit Sales by ₦15,000, Debit Returns Outwards by ₦1,000, Credit Returns Inwards by ₦500
B. Debit Purchases by ₦10,000, Credit Sales by ₦15,000, Debit Returns Inwards by ₦500, Credit Returns Outwards by ₦1,000
Correct Answer C. Debit Purchases by ₦10,000, Credit Sales by ₦15,000, Debit Returns Outwards by ₦1,000, Credit Returns Inwards by ₦500
D. Debit Purchases by ₦10,000, Credit Sales by ₦15,000, Debit Returns Inwards by ₦500, Credit Returns Outwards by ₦1,000
Correct Answer
C
Correct Option:
Debit Purchases by ₦10,000, Credit Sales by ₦15,000, Debit Returns Outwards by ₦1,000, Credit Returns Inwards by ₦500

About This Question

This is Post Utme Christopher University 2019 Accounting Question 22. It is one of the objective questions from the 2019 Post Utme Christopher University Accounting examination.

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