Post Utme Ksu 2020 Accounting Question 38

Practice objective / multiple choice question 38 from the 2020 Post Utme Ksu Accounting examination.

Post Utme Ksu 2020 Accounting Objective / Multiple Choice
Question 38 POST_UTME_KSU • 2020 • ACCOUNTING • objective

A company uses the double-entry system of accounting. If the company purchases goods worth ₦100,000 and pays cash of ₦80,000, what is the journal entry for the transaction?

Answer Options

Correct Answer A. Debit Purchases ₦100,000, Credit Cash ₦80,000
B. Debit Purchases ₦80,000, Credit Cash ₦100,000
C. Debit Purchases ₦100,000, Credit Cash ₦100,000
D. Debit Purchases ₦80,000, Credit Cash ₦80,000
Correct Answer
A
Correct Option:
Debit Purchases ₦100,000, Credit Cash ₦80,000

About This Question

This is Post Utme Ksu 2020 Accounting Question 38. It is one of the objective questions from the 2020 Post Utme Ksu Accounting examination.

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