Post Utme Futo 2025 Accounting Question 20

Practice objective / multiple choice question 20 from the 2025 Post Utme Futo Accounting examination.

Post Utme Futo 2025 Accounting Objective / Multiple Choice
Question 20 POST_UTME_FUTO • 2025 • ACCOUNTING • objective

A company uses a self-balancing ledger to record its transactions. The ledger has the following accounts: Cash, Accounts Payable, and Sales Revenue. The company's trial balance shows a debit balance of ₦10,000 in the Cash account and a credit balance of ₦20,000 in the Accounts Payable account. What is the correct journal entry to record the purchase of office supplies worth ₦5,000?

Answer Options

Correct Answer A. Debit Office Supplies ₦5,000, Credit Cash ₦5,000
B. Debit Cash ₦5,000, Credit Office Supplies ₦5,000
C. Debit Accounts Payable ₦5,000, Credit Office Supplies ₦5,000
D. Debit Office Supplies ₦5,000, Debit Cash ₦5,000
Correct Answer
A
Correct Option:
Debit Office Supplies ₦5,000, Credit Cash ₦5,000

About This Question

This is Post Utme Futo 2025 Accounting Question 20. It is one of the objective questions from the 2025 Post Utme Futo Accounting examination.

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