Post Utme Futa 2025 Accounting Question 32

Practice objective / multiple choice question 32 from the 2025 Post Utme Futa Accounting examination.

Post Utme Futa 2025 Accounting Objective / Multiple Choice
Question 32 POST_UTME_FUTA • 2025 • ACCOUNTING • objective

A government agency has the following transactions: Purchased office equipment for ₦150,000. Paid ₦20,000 cash and the balance on account. Recorded a journal entry for the purchase. What is the correct journal entry?

Answer Options

A. Debit Office Equipment ₦150,000, Credit Cash ₦20,000, Credit Accounts Payable ₦130,000
B. Debit Office Equipment ₦150,000, Credit Cash ₦20,000, Credit Accounts Receivable ₦130,000
Correct Answer C. Debit Office Equipment ₦150,000, Credit Cash ₦20,000, Credit Accounts Payable ₦130,000
D. Debit Office Equipment ₦150,000, Credit Cash ₦20,000, Credit Accounts Receivable ₦130,000
Correct Answer
C
Correct Option:
Debit Office Equipment ₦150,000, Credit Cash ₦20,000, Credit Accounts Payable ₦130,000

About This Question

This is Post Utme Futa 2025 Accounting Question 32. It is one of the objective questions from the 2025 Post Utme Futa Accounting examination.

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