Post Utme Lasu 2018 Accounting Question 24

Practice objective / multiple choice question 24 from the 2018 Post Utme Lasu Accounting examination.

Post Utme Lasu 2018 Accounting Objective / Multiple Choice
Question 24 POST_UTME_LASU • 2018 • ACCOUNTING • objective

A company uses a self-balancing ledger to record the following transactions: Debit: Cash 1,000, Accounts Payable 2,000 Credit: Purchases 3,000 What is the correct ledger 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 24. It is one of the objective questions from the 2018 Post Utme Lasu Accounting examination.

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