Post Utme Crawford University 2022 Accounting Question 34

Practice objective / multiple choice question 34 from the 2022 Post Utme Crawford University Accounting examination.

Post Utme Crawford University 2022 Accounting Objective / Multiple Choice
Question 34 POST_UTME_CRAWFORD_UNIVERSITY • 2022 • ACCOUNTING • objective

A company has the following transactions: Purchased goods for ₦100,000; sold goods for ₦150,000; purchased office equipment for ₦20,000; and paid rent of ₦10,000. Prepare a journal entry for the sale of goods.

Answer Options

A. Debit Sales ₦150,000, Credit Cash ₦150,000
B. Debit Sales ₦150,000, Credit Accounts Receivable ₦150,000
Correct Answer C. Debit Sales ₦150,000, Credit Cost of Goods Sold ₦150,000
D. Debit Sales ₦150,000, Credit Office Expenses ₦150,000
Correct Answer
C
Correct Option:
Debit Sales ₦150,000, Credit Cost of Goods Sold ₦150,000

About This Question

This is Post Utme Crawford University 2022 Accounting Question 34. It is one of the objective questions from the 2022 Post Utme Crawford University Accounting examination.

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