Post Utme Ims U 2025 Accounting Question 14

Practice objective / multiple choice question 14 from the 2025 Post Utme Ims U Accounting examination.

Post Utme Ims U 2025 Accounting Objective / Multiple Choice
Question 14 POST_UTME_IMS_U • 2025 • ACCOUNTING • objective

A company purchased goods on credit for ₦ 80,000. He also paid ₦ 20,000 as cash. Prepare the journal entry for the purchase.

Answer Options

A. Debit Purchases ₦ 60,000, Credit Cash ₦ 20,000
Correct Answer B. Debit Purchases ₦ 80,000, Credit Cash ₦ 20,000
C. Debit Purchases ₦ 60,000, Credit Accounts Payable ₦ 20,000
D. Debit Purchases ₦ 80,000, Credit Accounts Payable ₦ 20,000
Correct Answer
B
Correct Option:
Debit Purchases ₦ 80,000, Credit Cash ₦ 20,000

About This Question

This is Post Utme Ims U 2025 Accounting Question 14. It is one of the objective questions from the 2025 Post Utme Ims U Accounting examination.

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