Post Utme Igbinedion University 2020 Accounting Question 20
Practice objective / multiple choice question 20 from the 2020 Post Utme Igbinedion University Accounting examination.
A company has the following journal entry: | Date | Account | Debit | Credit | | --- | --- | --- | --- | | 1st | Cash | ₦100,000 | | | 1st | Accounts Payable | | ₦50,000 | | 1st | Sales Revenue | ₦200,000 | | | 1st | Cost of Goods Sold | | ₦150,000 | What is the effect of this journal entry on the company's cash balance?
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This is Post Utme Igbinedion University 2020 Accounting Question 20. It is one of the objective questions from the 2020 Post Utme Igbinedion University Accounting examination.
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