Post Utme Eksu 2020 Accounting Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Eksu Accounting examination.

Post Utme Eksu 2020 Accounting Objective / Multiple Choice
Question 1 POST_UTME_EKSU • 2020 • ACCOUNTING • objective

A company's trial balance shows a discrepancy of ₦25,000 between the debit and credit sides. The company's accountant has identified the following transactions that were not recorded in the journal: A purchase of office equipment for ₦15,000, a sale of goods for ₦20,000, and a payment of ₦10,000 to a creditor. What is the correct journal entry to record these transactions?

Answer Options

Correct Answer A. Debit Office Equipment ₦15,000, Credit Cash ₦15,000
B. Debit Cash ₦20,000, Credit Sales ₦20,000
C. Debit Creditor ₦10,000, Credit Cash ₦10,000
D. Debit Office Equipment ₦15,000, Credit Sales ₦20,000
Correct Answer
A
Correct Option:
Debit Office Equipment ₦15,000, Credit Cash ₦15,000

About This Question

This is Post Utme Eksu 2020 Accounting Question 1. It is one of the objective questions from the 2020 Post Utme Eksu Accounting examination.

View More Post Utme Eksu 2020 Accounting Questions More Post Utme Eksu 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