Post Utme Lasu 2018 Accounting Question 21

Practice objective / multiple choice question 21 from the 2018 Post Utme Lasu Accounting examination.

Post Utme Lasu 2018 Accounting Objective / Multiple Choice
Question 21 POST_UTME_LASU • 2018 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions were recorded in the journal: Debit: Cash 1,000, Accounts Payable 2,000 Credit: Purchases 3,000 What is the correct journal entry for the above transaction?

Answer Options

Correct Answer A. Debit: Cash 1,000, Accounts Payable 2,000 Credit: Purchases 3,000
B. Debit: Purchases 3,000 Credit: Cash 1,000, Accounts Payable 2,000
C. Debit: Cash 1,000 Credit: Purchases 3,000, Accounts Payable 2,000
D. Debit: Accounts Payable 2,000 Credit: Purchases 3,000, Cash 1,000
Correct Answer
A
Correct Option:
Debit: Cash 1,000, Accounts Payable 2,000 Credit: Purchases 3,000

About This Question

This is Post Utme Lasu 2018 Accounting Question 21. It is one of the objective questions from the 2018 Post Utme Lasu Accounting examination.

View More Post Utme Lasu 2018 Accounting Questions More Post Utme Lasu Practice Questions Back to Questions

Master the Exam!

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