Post Utme Ims U 2021 Accounting Question 19

Practice objective / multiple choice question 19 from the 2021 Post Utme Ims U Accounting examination.

Post Utme Ims U 2021 Accounting Objective / Multiple Choice
Question 19 POST_UTME_IMS_U • 2021 • ACCOUNTING • objective

A company uses the double-entry system of accounting. If a customer pays ₦10,000 cash for a sale, and the company records a debit to Cash and a credit to Sales Revenue, what is the correct journal entry?

Answer Options

Correct Answer A. Debit: Cash ₦10,000, Credit: Sales Revenue ₦10,000
B. Debit: Sales Revenue ₦10,000, Credit: Cash ₦10,000
C. Debit: Cash ₦10,000, Credit: Accounts Payable ₦10,000
D. Debit: Accounts Payable ₦10,000, Credit: Cash ₦10,000
Correct Answer
A
Correct Option:
Debit: Cash ₦10,000, Credit: Sales Revenue ₦10,000

About This Question

This is Post Utme Ims U 2021 Accounting Question 19. It is one of the objective questions from the 2021 Post Utme Ims U Accounting examination.

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