Post Utme Ksu 2023 Accounting Question 39

Practice objective / multiple choice question 39 from the 2023 Post Utme Ksu Accounting examination.

Post Utme Ksu 2023 Accounting Objective / Multiple Choice

Question 39 POST_UTME_KSU • 2023 • ACCOUNTING • objective

A company has the following transactions: Purchased a machine for ₦100,000; Sold goods for ₦50,000. Prepare the journal entries for these transactions.

Correct Answer A. Debit Machine ₦100,000, Credit Cash ₦100,000

B. Debit Sales ₦50,000, Credit Cash ₦50,000

C. Debit Cash ₦100,000, Credit Machine ₦100,000

D. Debit Sales ₦50,000, Credit Machine ₦50,000

Correct Answer

Correct Option:

Debit Machine ₦100,000, Credit Cash ₦100,000

This is Post Utme Ksu 2023 Accounting Question 39. It is one of the objective questions from the 2023 Post Utme Ksu Accounting examination.

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support