Post Utme Crawford University 2023 Accounting Question 18

Practice objective / multiple choice question 18 from the 2023 Post Utme Crawford University Accounting examination.

Post Utme Crawford University 2023 Accounting Objective / Multiple Choice
Question 18 POST_UTME_CRAWFORD_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's accounting records show the following transactions for the month of January: | Date | Description | Debit | Credit | | --- | --- | --- | --- | | 1-Jan | Cash | 10,000 | | | 5-Jan | Sales | | 15,000 | | 10-Jan | Rent | 5,000 | | | 15-Jan | Purchase | | 8,000 | | 20-Jan | Cash | | 12,000 | What is the correct ledger account for the purchase transaction on 15-Jan?

Answer Options

A. Debit Purchase 8,000, Credit Cash 8,000
Correct Answer B. Debit Purchase 8,000, Credit Accounts Payable 8,000
C. Debit Accounts Payable 8,000, Credit Purchase 8,000
D. Debit Cash 8,000, Credit Purchase 8,000
Correct Answer
B
Correct Option:
Debit Purchase 8,000, Credit Accounts Payable 8,000

About This Question

This is Post Utme Crawford University 2023 Accounting Question 18. It is one of the objective questions from the 2023 Post Utme Crawford University Accounting examination.

View More Post Utme Crawford University 2023 Accounting Questions More Post Utme Crawford University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support