Post Utme Crawford University 2023 Accounting Question 21

Practice objective / multiple choice question 21 from the 2023 Post Utme Crawford University Accounting examination.

Post Utme Crawford University 2023 Accounting Objective / Multiple Choice

Question 21 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 journal entry for the purchase transaction on 15-Jan?

Answer Options

A. Debit Purchase 8,000, Credit Cash 8,000

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

N/A

About This Question

This is Post Utme Crawford University 2023 Accounting Question 21. It is one of the objective questions from the 2023 Post Utme Crawford University Accounting examination.

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