Post Utme Ims U 2020 Accounting Question 31

Practice objective / multiple choice question 31 from the 2020 Post Utme Ims U Accounting examination.

Post Utme Ims U 2020 Accounting Objective / Multiple Choice
Question 31 POST_UTME_IMS_U • 2020 • ACCOUNTING • objective

A company issued 10,000, 10% debentures of ₦100 each at a discount of 5%. The debentures are redeemable after 5 years. Prepare the journal entry to record the issue of debentures.

Answer Options

A. ₦1,000,000
Correct Answer B. ₦1,050,000
C. ₦1,100,000
D. ₦1,150,000
Correct Answer
B
Correct Option:
₦1,050,000

About This Question

This is Post Utme Ims U 2020 Accounting Question 31. It is one of the objective questions from the 2020 Post Utme Ims U Accounting examination.

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